The Integration of INCOTERMS® & WTO Customs Valuation TV-Method 1: A Systematic Literature Review Towards Comprehensive Valuation Guide for Philippine Customs Valuation System

Author(s)	Prof. Rodolfo Jr Gloria Hospital
Country	Philippines
Abstract	The International Commercial Terms (INCOTERMS®) of the International Chamber of Commerce play crucial role in international trade businesses. It serves as the basis for identifying the trade transactions between the buyer and the seller, which include, costs, obligations and risks. It is composed of 11 trade terms that serve as a trade language in international trade. On other hand, the World Trade Organization (WTO) Transaction Value Method-1 serves as the primary legal basis for the imposition of customs duties and taxes at the country of importation, whereas, the INCOTERMS® serves as its source of pricing principle. These two organizational rules must be consistent with each other. However, there is no clear guidelines from the said organizations on how to comprehensively interpret the contexts of INCOTERMS® towards the rules of WTO customs valuation. For this reason, the researcher came up to an idea of integrating the terminologies under the two distinct organizations.
Keywords	INCOTERMS®2020, WTO Transaction Value-Method 1, integration, international trade, Philippine customs valuation
Field	Business Administration
Published In	Volume 7, Issue 5, September-October 2025
Published On	2025-10-24
DOI	https://doi.org/10.36948/ijfmr.2025.v07i05.58525

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