As international trade navigates complex customs regulations, accurately identifying and controlling valuation risks has become a shared challenge for customs authorities worldwide. Weaknesses in customs valuation processes can lead not only to revenue losses but also distort market competition and potentially enable illicit trade activities.
On June 25, 2025, under the framework of the SECO-WCO Global Trade Facilitation Program (GTFP) Phase II, a virtual forum focused on "Optimizing Customs Valuation Risk Management Practices and Tools" was successfully hosted in Peru. The event brought together 60 officials from Peru's National Superintendence of Customs and Tax Administration (SUNAT), along with representatives from Brazil, Chile, Mexico, and Uruguay to discuss emerging trends and best practices in customs valuation risk management.
International Collaboration: Sharing Knowledge and Expertise
The forum emphasized regional knowledge exchange, particularly regarding database development. Participants shared practical experiences in using databases to enhance customs valuation risk management, exploring how data analysis can identify high-risk goods, businesses, and trade patterns. These exchanges provided valuable insights for Peru's customs authority to refine its risk management framework.
Key areas of discussion included:
- Diversified data sources: Moving beyond customs declarations to incorporate commercial databases, industry association data, and information from other government agencies for comprehensive risk assessment models.
- Precision risk indicators: Developing specialized risk parameters for different commodities and trade methods, with dynamic adjustments based on real-world conditions.
- Intelligent alert systems: Implementing big data analytics to establish smart monitoring mechanisms for detecting anomalous transactions.
- Case study integration: Regular review of case studies to refine risk management strategies through practical lessons learned.
Transparency and Efficiency: Reengineering Valuation Verification
The forum also addressed how to implement more efficient and transparent value verification procedures. Traditional methods often prove time-consuming and susceptible to human error. Participants agreed on the need for process redesign incorporating advanced technologies and management approaches.
Proposed solutions included:
- Implementing electronic customs declarations to streamline processing and reduce manual errors.
- Developing comprehensive price databases to provide objective reference points for valuation decisions.
- Applying risk-based verification approaches to optimize inspection resource allocation.
- Strengthening post-clearance audits to maintain oversight and corrective mechanisms.
Public-Private Partnerships: Combating Valuation Fraud
Recognizing the sophisticated nature of customs valuation violations, participants explored enhanced cooperation with private sector stakeholders. Discussions focused on mobilizing business participation to address fraudulent activities in customs valuation.
Collaborative strategies included:
- Establishing information-sharing channels with industry groups to monitor market conditions.
- Conducting joint training programs to improve business compliance with valuation regulations.
- Creating whistleblower incentive programs to encourage reporting of suspicious activities.
- Organizing coordinated inspections to enhance enforcement effectiveness.
Peru's Action Plan: Strengthening Valuation Oversight
Following the forum, Peru's SUNAT outlined specific measures to enhance its valuation procedures, including:
- Refining risk assessment models for greater accuracy.
- Enhancing data analytics capabilities through big data technologies.
- Optimizing verification workflows to reduce trade costs.
- Deepening collaboration with private sector partners.
The World Customs Organization reaffirmed its commitment to support Peru in strengthening customs valuation processes, reflecting its broader dedication to global trade facilitation.
This international gathering has established new benchmarks for customs valuation risk management while providing actionable insights for participating nations. As global trade grows increasingly complex, such multilateral cooperation represents an essential pathway toward sustainable trade facilitation.