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B How do foreign countries value software imports for the purpose of assessing tariffs?

April 26, 2017assessing countries foreign imports purpose Software tariffs value

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B How do foreign countries value software imports for the purpose of assessing tariffs?

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Countries vary in their methods of valuing software imports and assessing tariffs. Under Article 4.1 of the 1984 General Agreement on Tariffs and Trade (GATT), it was declared that software valuation may either be inclusive or exclusive of the cost or value of the intellectual property component of the product. However, it was recommended that software valuation be based on the value or cost of the carrier medium (i.e., blank optical disk) rather than the intellectual property embedded in the medium.