What is the basis for determining the rate of duty for valuation?

The basis for determining the rate of duty for valuation is the country of origin on the date of entry. This is because customs duties and tariffs are typically assessed based on where the goods are manufactured or produced, rather than where they are shipped from or where they are ultimately destined. The country of origin is a crucial factor in determining the applicable rate of duty, as it reflects the economic and tariff implications based on trade agreements and regulations that may vary from one country to another.

Customs authorities utilize the country of origin to ascertain the appropriate duty based on international trade agreements, protective tariffs, and rules related to anti-dumping and countervailing measures. The timing of entry is also significant, as changes in tariffs or duty rates can occur, making it important to consider the country of origin on the actual date of entry into the customs territory.