G/VAL/N/1/COL/2  
7 October 2014  
(14-5669)  Page: 1/12  
Committee on Customs Valuation  Original: Spanish  
 
  NOTIFICATION UNDER ARTICLE 22 OF THE AGREEMENT  
ON IMPLEMENTATION OF ARTICLE VII OF THE GENERAL 
AGREEMENT ON TARIFFS AND TRADE 1994 
COLOMBIA  
The following communication, dated 26 August 2014, is being circulated at the request of the 
delegation of Colombia. 
 
_______________ 
  
The Government of Colombia hereby notifies the following amendments that were made to 
its national legislation to ensure compliance with the findings of the Panel in Colombia - Ports 
of Entry (DS366): 
Annex 1:  Ministry of Finance, Decree No. 111 of 21 January 2010 partially amending and 
supplementing Decree No. 2685 of 1999 and adopting other provisions; and 
 
Annex 2:  Director-General of National Customs and Excise, Resolution No. 733 
of 29 January 2010 supplementing and amending Resolution No. 4240 of 2000. 
_______________ 
 G/VAL/N/1/COL/2 
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  ANNEX 1 
 
MINISTRY OF FINANCE DECREE NO. 111 OF 21 JANUARY 2010 
PARTIALLY AMENDING AND SUPPLEMENTING DECREE NO. 2685  
OF 1999 AND ADOPTING OTHER PROVISIONS 
THE PRESIDENT OF THE REPUBLIC OF COLOMBIA 
In exercise of his constitutional and legal po wers, in particular those conferred on him by 
Article 189, paragraph 25, of the Political Cons titution, Law No. 6 of 1971 and Law No. 7 of 1991, 
and having heard the opinion of the Cust oms, Tariffs and Foreign Trade Committee 
HEREBY DECREES 
ARTICLE 1. Article 41 of Decree No. 2685 of 1999 shall be amended to read as follows: 
"Article 41. Places authorized for the entr y and exit of goods under customs control. 
These are places through which the National Customs and Excise Directorate allows goods under customs control to enter and exit the national customs territory. The administrative decision 
issuing authorization shall clearly define places that constitute a Primary Customs Area, indicating, 
where appropriate, their physical boundaries and features. 
For the authorization of ports and airports, the National Customs and Excise Directorate shall 
require that the facilities used for the loading, unloading, customs storage, warehousing and 
transfer of goods under customs control and the areas used for carrying out customs operations, 
have the proper physical infrastructure, security systems and equipment to ensure, to the Directorate's satisfaction, the safety of the goods and the full exercise of customs control. 
The customs authority, in coordination with the po rt and airport authorities and the administrators 
of authorized ports and airports, shall make prov ision for measures and procedures to ensure the 
unrestricted exercise of the powers of Customs in the Primary Customs Area, where, in addition to 
the provisions of the above paragraph, it sha ll regulate, in conjunction with the competent 
authorities, the movement of vehicles an d persons and make provision for systems 
to identify them. 
Failure by the holders of such authorization to comply with the measures established pursuant to 
this Article may entail the loss of authorization for the entry of goods to and the exit of goods from 
the national customs territory. 
Paragraph. In accordance with the international commitments duly undertaken by the country, 
the National Customs and Excise Directorate may, for national security reasons previously 
determined by the National Government or for cont rol purposes established in accordance with risk 
management system criteria, take measures to limit the entry or exit of goods through authorized 
areas. 
In all cases, measures limiting the entry or exit of goods shall be duly supported or justified by a 
prior analysis of the information and evidence ge nerated by the risk management system, and be 
proportionate to the objective pursued." 
ARTICLE 2. Article 119 of Decree No. 2685 of 1999 shall be amended to read as follows: 
"Article 119. Declaration period. Import declarations shall be submitted within the period 
specified in Article 115 of this Decree or prior to the arrival of the goods, but not more than 
15 calendar days in advance. 
Customs duties shall be paid within the period sp ecified in Article 115 of this Decree, except where 
a declaration is submitted in advance, in which case they may be paid any time from when the 
declaration is submitted to when the release is obtained, on an interest-free basis. G/VAL/N/1/COL/2 
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  The National Customs and Excise Directorate may establish, by means of a general resolution, 
the obligation to submit the import declaration prior to the arrival of the goods, on the basis of the analysis of the results deriving from the application of the risk management system. 
Paragraph 1. The import declaration for electric power shall be submitted no later than the last 
day of every month, to consolidate the imports effected during the month immediately prior to 
that in which the Declaration is submitted, and shall be accompanied by the supporting documents 
specified by the National Customs and Excise Directorate. 
Paragraph 2. Where an import declaration is to be presented in advance pursuant to the 
third paragraph of this Article, it shall be submitted no more than 15 calendar days and no less than five calendar days prior to the arrival of the goods. In the event of non-compliance with the time frame provided for in this paragraph, the de clarant may submit a legalization declaration in 
the form and manner established in Article 231 of this Decree." 
ARTICLE 3. Article 127 of Decree No. 2685 of 1999 shall be amended to read as follows: 
"Article 127. Customs inspection period. The customs inspection shall take place in a 
continuous manner and end, at the latest, on the day following that on which it was prescribed, 
unless, for justified reasons, a longer period is required, in which case an extension may be granted. 
The period provided for in Article 115 of this Decree shall be suspended from the moment when 
the customs inspection is determined until the moment when the inspection ends with the release of the goods or when the periods established in paragraphs 4, 5, 6, 7, 9 and 10 of Article 128 
of this Decree expire, as appropriate. This suspensi on shall not apply if the declarant is not present 
at the inspection. 
Where the periods provided for in paragraphs 5, 6, 9 and 10 of Article 128 of this Decree expire 
without the use of the options specified in those pa ragraphs for obtaining the release of the goods, 
the storage period established in Article 115 of this Decree shall resume. 
Whenever a customs inspection takes place, g oods shall only be released where they are 
consistent with the import declaration or where a document inspection establishes the consistency 
between the declaration and the information cont ained in the supporting documents. Where goods 
are found to be in higher quantities or different to those declared, they shall be seized so that the process of defining their legal status can take place independently. Where this occurs, the inspector shall refer the case to the competent body so that the relevant steps can be taken." 
ARTICLE 4. Article 128.5 of Decree No. 2685 of 1999 shall be amended to read as follows: 
5. "Where, following the physical or documentary customs inspection: 
5.1.  Doubts are raised as to the declared value of the imported goods or any of the 
elements making up their customs value, due to this value being considered low 
according to DIAN risk management system indicators; 
5.1.1. The declarant, within two days of the inspection, shall submit the supporting 
documents that confirm the declared price; or 
5.1.2. If, upon the expiry of the period  provided for in paragraph 5.1.1, the 
supporting documents have not been submitted or do not confirm the declared value and where doubt persists, the declarant shall post a guarantee within the 
following three days in accordance with Article 254 of this Decree. 
5.1.3. Pursuant to Article 54.3 of the Co mmunity Regulation adopted by Resolution 
No. 846 of the Andean Community of Nations (CAN), where the prices declared 
are manifestly low and may imply the existence of fraud, the customs authority 
shall require a guarantee. G/VAL/N/1/COL/2 
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  Without prejudice to the foregoing, the declarant may voluntarily choose to post the guarantee 
renouncing the terms provided for in paragraph 5.1.1. or, where he considers it necessary, freely and voluntarily adjust the import declaration to the price actually negotiated. 
5.2.  Doubts are raised as to the declared customs value on the basis of the documents 
submitted or other objective and quantifiable data that differs from the values in the 
risk management system customs valuation database or the reference prices, and the declarant, within five days of the inspection, submits the supporting documents 
confirming the declared customs value or corrects the import declaration in 
accordance with the inspection report; 
In the circumstances provided for in paragraphs 5. 1 and 5.2, no penalty shall be incurred during 
the inspection process." 
ARTICLE 5. Article 129 of Decree No. 2685 of 1999 shall be amended to read as follows: 
"Article 129. Release following the form ulation of a special customs demand. 
Where, following the formulation of a special customs demand containing a proposed official value 
correction or revision assessment, the declarant corrects the declaration and pays the penalties 
and the higher values proposed within five days of the notification or responds to the Demand by correcting and paying what he acknowledges he owes and by posting a guarantee for the 
amount in question, the release shall take place. 
ARTICLE 6. The following two paragraphs shall be added to Article 231 of Decree No. 2685 
of 1999: 
"Paragraph 3. Pursuant to the third paragraph and paragraph 2 of Article 119 of this Decree, 
where the declaration is not submitted in advance or is submitted outside the established periods, 
the goods may be subject to legalization within the period referred to in Article 115 of this Decree, and 10% of the customs value of the goods shall be payable, as well as any relevant customs 
duties and penalties, by way of a recovery fee. Once this period has expired, the goods shall be 
considered legally abandoned. 
Paragraph 4. The National Customs and Excise Directorate may establish, by means of a general 
resolution, the circumstances in which a legalization declaration may be submitted without the 
payment of a recovery fee or with a fee of a re duced percentage where errors or omissions are 
detected in the description of the goods in the advance import declaration." 
ARTICLE 7. Article 237 of Decree No. 2685 of 1999 shall be amended to read as follows: 
"Article 237. Definitions for applying cust oms valuation rules of the WTO Valuation 
Agreement and the Andean Community. 
In addition to the definitions provided in Arti cle 15 of the GATT 1994 Valuation Agreement and its 
Interpretative Note, and Article 2 of the Community Regulation adopted by Resolution No. 846 
of the Andean Community of Nations (CAN), the terms used in this Title shall have the following meanings: 
DATABASE 
A set of systematically stored data relating to a specific context, which is used to ensure the 
correct implementation of the WTO Valuation Ag reement and within the framework of the risk 
management system. 
The information stored in the database may be used by the Customs Administration to clarify the 
doubts referred to in Article 17 of the WTO Valuation Agreement by allowing for the f.o.b. value and other elements of the declared customs value to be verified, and may be used to prepare 
value-related programmes, studies and investigations. G/VAL/N/1/COL/2 
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  The database, as an evaluation instrument within the DIAN risk management system, shall be 
supplied with data in accordance with the criteria  of Article 7 of the WTO Valuation Agreement and 
shall be used according to WCO guidelines. The us e of the database does not imply the automatic 
rejection of the transaction value declared for imported goods. 
TIME OF EXPORTATION 
The date of issue of the transport document. TIME OF IMPORTATION 
The date of arrival of the goods in the national customs territory, established in accordance with 
the customs regulations in force. 
REFERENCE PRICE According to Article 2(g) of the Community Regulation adopted by Resolution No. 846, 
reference prices are international prices of g oods identical or similar to the goods subject 
to valuation, taken from specialized sources such  as books, journals, catalogues, price lists, 
quotations, import price histories that have been  verified by customs, and customs databanks, 
and include goods prices resulting from value analyses. 
Reference prices, as an evaluation instrument wi thin the DIAN risk management system, shall be 
taken into account in accordance with the criteria of Article 7 of the WTO Valuation Agreement and 
shall be applied according to WCO guidelines. The use of reference prices does not imply the 
automatic rejection of the transaction value declared for imported goods. 
MANIFESTLY LOW PRICE A price that is manifestly inconsistent with the real international trade price for the imported goods 
due to its inconceivably low level; such prices may constitute fraud. 
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES In accordance with the General Interpretati ve Note to the Agreement and Decree No. 2649 
of 1993 or its amending or supplementing provis ions, these principles are the set of basic 
standards and rules that must be observed in recording and reporting the business affairs and 
activities of natural or legal persons for accounting purposes. 
Accounts based on these principles will make it possible to identify, measure, classify, record, 
interpret, analyse, evaluate and report the operat ions of an economic entity clearly, reliably and 
in full. 
PROVIDED THEY ARE SE PARATELY INDICATED 
This expression relates to information or data on  expenses, costs, charges, profits or any other 
element relating to an economic activity, which is known or which is indicated separately from the price actually paid or payable and which appears in the commercial invoice, the contract of sale, 
the freight contract or other commercial documents submitted for customs valuation purposes. 
CUSTOMS VALUE OF THE IMPORTED GOODS Value of the goods for the purpose of collecting ad valorem  customs duties, established in 
accordance with the procedures and method s of the Agreement, in conformity with 
Decision No. 571 of the Andean Community Commission and this Decree. 
RELATED PERSONS Two persons shall be deemed to be related only if they fall into one of the categories specified in 
Article 15.4 or 15.5 of the Agreement. For the pu rpose of applying the Transaction Value Method, G/VAL/N/1/COL/2 
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  family ties shall be taken to mean the relationships provided for in Article 13.4 of the Community 
Regulation adopted by Resolution No. 846 of the General Secretariat of the Andean Community of Nations (CAN)." 
ARTICLE 8. Article 254 of Decree No. 2685 of 1999 shall be amended to read as follows: 
"Article 254. Release of the goods. Where a dispute arises regarding the declared customs 
value and/or the supporting documents, or where it is not possible to determine the value at the time of importation, the release of the goods may be authorized subject to the posting of a 
guarantee, in accordance with the terms of  Article 13 of the WTO Valuation Agreement, 
Andean regulations and Article 128.5 of this Decree and pursuant to the conditions and procedures 
prescribed by the customs authority. 
In the circumstances referred to in paragraph 5.1 of Article 128, in which guarantees are posted, 
the import declaration and supporting documents shall be sent to the competent body for the 
determination of the customs value during the post-inspection control phase. 
Where the price and declared customs value are acce pted on the basis of a value analysis carried 
out in the event of a dispute regarding value, a copy of the analysis shall be sent to the competent 
body for the release of the guarantee and to the importer so that he can take the relevant steps to ensure its refund. Where the value analysis determines a customs value higher than that declared, 
the corresponding special customs demand shall be  issued according to the procedure established 
in Articles 507 et seq. of this Decree." 
ARTICLE 9. The following paragraph shall be added to Article 370 of Decree No. 2685 of 1999: 
"Paragraph 2. Goods entering national territory that are covered by documents indicating that 
they are destined for another country may continue their course of transit in accordance with the 
relevant international provisions." 
ARTICLE 10. Article 470(k) of Decree No. 2685 of 1999 shall be amended to read 
as follows: 
"Article 470. Inspection and monitoring powers. (k) Take any precautionary measures needed to pr operly safeguard evidence, including the seizure 
of the goods." 
ARTICLE 11. The following Article shall be added to Decree No. 2685 of 1999: 
"Article 475 - 1. Risk management system. The National Customs and Excise Directorate may 
establish and use risk management systems with a view to preventing or combatting the use of 
trade for purposes inconsistent with tax, customs and foreign exchange provisions. 
Within the risk management system framework, the Directorate may focus its inspection activities 
on high-risk operations and speed up the clearanc e of low-risk goods, implement risk monitoring 
mechanisms, establish control measures at goods entry and exit points, and use other duly 
recognized international mechanisms. 
Paragraph: With regard to customs valuation, the risk management system identifies, inter alia , 
the risk that there may be some distortion of  the elements of value of the goods imported, 
whether this has occurred independently or in association with other irregularities in the importation process. 
ARTICLE 12. The following shall be repealed: Article 122(g), Article 128.8, Article 253, 
Article 499.5, paragraph 1.20 of Article 502, Article 502-1, the paragraph of Article 525 
of Decree No. 2685 of 1999, Decrees Nos. 3146, 3 271, 3272 and 3515 of 2008, together with the 
amendments and supplements thereto, and any other inconsistent provisions. G/VAL/N/1/COL/2 
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  ARTICLE 13. This Decree  shall enter into force on 1 February 2010, following its publication. 
FOR PUBLICATION AND IMPLEMENTATION.  
Done at Bogotá D.C. on 21 January 2010 
ALVARO URIBE VELEZ  
President of the Republic 
 
OSCAR IVAN ZULUAGA ESCOBAR  
Minister of Finance and Public Credit 
 
GABRIEL DUQUE MILDENBERG  
Deputy Minister of Foreign Trade acting on behalf  of the Minister of Trade, Industry and Tourism 
 G/VAL/N/1/COL/2 
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  ANNEX 2  
 
DIRECTOR-GENERAL OF NATIONAL CUSTOMS AND EXCISE 
RESOLUTION NO. 733 OF 29 JANUARY 2010 SUPPLEMENTING 
AND AMENDING RESOLUTION NO. 4240 OF 2000 
THE DIRECTOR-GENERAL OF NATIONAL CUSTOMS AND EXCISE 
In exercise of his legal powers, in particular those contained 
 in Article 6.12 of Decree No. 4048 of 2008, 
HEREBY DECIDES 
ARTICLE 1. The following article shall be added to Resolution No. 4240 of 2000: 
"Article 85-1. Customs inspection period. For the purposes of Article 127 of Decree No. 2685 
of 1999, the following shall be taken into account: 
(a)  Where the periods provided for in paragraphs Article 128.4 and 128.7 
of Decree No. 2685 of 1999 have expired and the circumstances leading to the 
suspension of the inspection have not been remedied, the goods in question shall be 
seized immediately. 
 
(b)  Where storage periods have resumed in accordance with the third paragraph 
of Article 127 of Decree No. 2685 of 1999, the declarant may, within the remaining time, submit the respective correction declaration attesting to compliance with the options provided for in paragraphs 5, 6,  9 and 10 of Article 128 ibidem, and pay any 
customs duties and penalties that may apply. 
 (c)  Where, within the period provided for in paragraphs 6 and 9 of Article 128 
of Decree No. 2685 of 1999, supporting docume nts have been submitted showing that 
the goods are not subject to legal or administrative restrictions, and these documents do not correspond to the foreign trade transaction in question or do not attest to 
compliance with the relevant requirements, the goods shall be seized in accordance 
with paragraph 1.25 of Article 502 of Decree No. 2685 of 1999." 
ARTICLE 2. The fourth paragraph of Article 103-4 of Resolution No. 4240 of 2000 shall be 
amended to read as follows: 
"The prices that must be declared at the time of the temporary importation of the raw materials 
and inputs are those corresponding to the transaction in accordance with the WTO Valuation Agreement, and shall be subject to the provisions  on prior and post-inspection controls that are 
applied for this purpose". 
ARTICLE 3. Article 119-1 of Resolution No. 4240 of 2000 sh all be amended to read as follows: 
"Article 119-1. Adjustment proposals. Where, following verification, the authority establishes 
that the value indicated in the transport document is lower than the reference prices listed in the 
database or taken from other sources, it shall proceed as follows: 
Where the value indicated in the transport do cument is lower than the reference price, 
the competent official shall make an adjustment proposal taking that price into consideration. 
The goods shall be released under this procedure if, within the statutory period in which the goods 
are warehoused, the intermediary submits to th e customs authority the documents that confirm 
the price actually paid or to be paid, or freely and voluntarily makes the respective adjustment. 
The price adjustment within the framework of the procedure shall only be accepted where it does 
not involve any change to the procedure. G/VAL/N/1/COL/2 
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  Paragraph 1. Where the intermediary, within the statutory period in which the goods are 
warehoused, does not adjust the price or justify it in due form, as appropriate, the goods shall be considered legally abandoned. 
Paragraph 2. Where the adjustment proposal implies a ch ange of procedure, the goods shall be 
transferred to an approved warehouse in accordan ce with Article 120 of this Resolution, so that 
another import procedure can be applied. In circumstances where the price is likely to be shown to be in conformity with the second paragraph of this  Article, the intermediary may prove this before 
transferring the goods to the warehouse and shall ha ve a period of five days from the date of the 
adjustment proposal in which to do so. If this period expires without the intermediary having proved the price actually paid or to be paid , the procedure shall be changed and the goods 
transferred to an approved warehouse. 
Paragraph 3. Where the price is adjusted, the  intermediary in the procedure may submit a value 
analysis request to the relevant customs sub-directorate, attaching the information provided by the importer." 
ARTICLE 4. Article 171 of Resolution No. 4240 of 2000 shall be amended to read as follows: 
"Article 171. Reference prices. The reference prices defined in Article 237 of Decree No. 2685 
of 1999 shall be regarded as a control measure during the inspection process. Pursuant to 
Article 53 of the Community Regulation adopted by Resolution No. 846 of the Andean Community 
of Nations (CAN), reference prices support doubts as to the value declared for the imported goods and may be used to assess the amount of the guarantee that must be paid in order to secure the release of the goods, in accordance with Article 61 of the above-mentioned Regulation. 
Reference prices may also be taken as a starting point for determining the dutiable base, 
when assessed using the method of last resort, in the special valuation cases provided for in Resolution No. 961 of the Andean Community of Nations and in the special cases established in 
this Resolution." 
ARTICLE 5. Article 172 of Resolution No. 4240 of 2000 shall be amended to read as follows: 
"Article 172. Authorization to release goods in the event of a dispute regarding doubts 
as to the declared value. Where, during the customs inspection that takes place during the 
importation process, a dispute arises regarding doubts as to the declared customs value in any of the situations described below, the release of the goods shall only be authorized if it takes place in accordance with the relevant paragraph, taking into consideration Article 128.5 of Decree No. 2685 
of 1999 and Article 17 of Andean Decision No. 571. 
1. Where the Andean Value Declaration is not submitted or not complete and/or correctly made 
out and does not correspond to the goods declared or to the respective import declaration, 
correction declaration, legalization declaration or amended declaration, the release shall be 
authorized if, within five days of the insp ection, the declarant submits the corresponding 
Andean Value Declaration duly made out and pays the penalty referred to in Article 499.1 
of Decree No. 2685 of 1999. 
2.  Regarding the supporting documents for any of the elements making up the customs value 
of the imported goods, the follow ing shall be taken into account: 
(a)  Where they are not submitted or are not valid, the release shall be authorized if, 
within five days of the inspection, the declarant submits the original documents in 
due form. 
 
(b)  Where they do not comply with the legal requirements, the release shall be authorized 
if the declarant can justify the omissions or inaccuracies by providing certification from whoever issued the documents, provided that such certification does not involve the 
reduction of the dutiable base. In the absence of such justification, the release may 
also be authorized if, within the same time frame, the declarant posts a guarantee in the form specified in Article 527 of this Resolution. G/VAL/N/1/COL/2 
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  (c)  Where they are smudged, have been co rrected or show signs of tampering, the 
release shall be authorized if, within five days of the inspection, the declarant posts a guarantee in the form specified in Article 527 of this Resolution. 
3. Regarding the prices declared, the following shall be taken into account: 
(a)  Where the price declared for the imported goods or for any of the elements making up 
the customs value is lower than the reference prices listed in the database or taken from other sources, the release shall be authorized if, within two days of the 
inspection, the declarant presents the supporting documents justifying the 
price declared. 
(b)  Where the time-limit provided for in the above paragraph expires, the supporting 
documents are not submitted, or those subm itted do not justify the declared value, 
the release shall be authorized if the declarant, within the three following days, 
posts a guarantee in the form specified in Article 523 of this Resolution. The release shall also be authorized if the declarant decides, freely and voluntarily, to adjust the 
price in the import declaration. If the adjustment made does not correspond to that 
determined in the inspection, the release shall take place if the declarant posts a guarantee, within the period specified in this paragraph, for the remaining amount 
corresponding to the duties in question. 
In any case, the release shall be authorized if, within five days of the inspection, the declarant 
chooses to post a guarantee in the form specified in Article 523 of this Resolution or decides, freely and voluntarily, to adjust the price in the import declaration. 
4.  Where the price indicated in the commercial invoice, or any of the other elements that make 
up the customs value, is manifestly low, the release shall be authorized if, within five days of the inspection, the declarant decides, freely and vol untarily, to adjust the price in the import 
declaration or posts a guarantee in the form specif ied in Article 523 of this Resolution, where there 
is a parameter of comparison, or in accordance wi th Article 527 of this Resolution, where there is 
no such parameter. 
5.  Where the inspector doubts the truth or accu racy of the declared customs value on the basis 
of the supporting documents submitted or other ob jective and quantifiable data other than the 
reference prices from the database or other sources, the release shall be authorized if, within five days of the inspection, the declarant submits the supporting documents that confirm the 
declared customs value, or corrects the import declaration so that it indicates the price recorded in 
the inspection report. 
Paragraph 1 . The documents supporting the declared customs value are all those showing the 
price actually paid or to be paid by the buyer to the seller for the imported goods or for any of the 
elements of value. Pursuant to Article 52 of the Community Regulation adopted by 
Resolution No. 846 of the Andean Community of Nations (CAN), these documents may be 
exchange declarations, bank receipts and certificates, letters of credit, purchase orders, order 
forms and notes, order confirmation documents, purchase and sales contracts or any other document that supports the transaction, without pr ejudice to the checks that take place during 
post-inspection controls. 
Paragraph 2. Where the importer has posted a guarantee for obtaining the release, the head of 
the Customs Operation Management Division, or whichever service is acting on its behalf, shall, within two working days, submit to the Inspection Management Division, or whichever service is 
acting on its behalf, a copy of the inspection report together with photocopies of the import 
declaration, the documentation provided by the im porter in support of the transaction, and the 
guarantee posted, for the purposes of the corresponding value analysis. 
Paragraph 3 . Only where imports enter through the wharf of Puerto Nuevo in 
Bahía Portete (Guajira) may the declarant post a guarantee before a dispute regarding value arises." G/VAL/N/1/COL/2 
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  ARTICLE 6. Article 173 of Resolution No. 4240 of 2000 shall be amended to read as follows: 
"Article 173. Post-inspection controls . The Inspection Management Division, or whichever 
service is acting on its behalf, shall begin the value analysis on the basis of the copy of the inspection report and the other documents su bmitted by the importer in support of the 
transaction, without prejudice to the possibility of  requesting other documents, additional evidence 
and any other elements required to correctly determine the value. 
Once the value analysis has been completed and th e results have been issued, the following steps 
shall be taken: 
1.  Where the declared value is the same as that determined in the value analysis, the head of 
the Inspection Management Division shall send a co py of the results of the value analysis to the 
Customs Operation Management Division, with a vi ew to the release of the guarantee that was 
posted, and the importer shall be informed so that he can proceed in accordance with Article 254 
of Decree No. 2685 of 1999. 
2.  Where the declared customs value is different to that determined in the value analysis, 
the Inspection Management Division shall initiate the relevant investigation, in accordance with 
Articles 507 et seq . of Decree No. 2685 of 1999. In these circumstances, the case shall be referred 
to the Change Management Division or the Money Laundering Control and Prevention Unit, 
or whichever services are acting on their behalf, in  accordance with their remit, where appropriate. 
Paragraph 1: The provisions of this Article shall apply without prejudice to any criminal 
proceedings that may take place. 
Paragraph 2: The value analysis shall be completed, at the latest, in the year following the date 
on which the Inspection Management Division received the documents specified in Article 172.2 
of this Resolution. 
In addition, the value analyses carried out as part of post-inspection control programmes shall be 
completed, at the latest, in the year following the date on which the respective programme was 
notified to the Inspection Management Division. 
Paragraph 3: Where the declared price corresponds to that accepted in a value analysis or in an 
official value revision assessment process, it shall not be disputed by risk management system 
prices, provided that the same factual elements and circumstances of the transaction are maintained, such as the same supplier, identical goods, the same country of provenance and origin, the same price, and other conditions inherent to the transaction". 
ARTICLE 7. The following subparagraph and paragraph shall be added to Article 496 of 
Resolution No. 4240 of 2000: 
"In customs valuation cases, guarantees may also be posted in the form of a cash deposit". 
"Paragraph 2. Guarantees posted in the form of a cash deposit shall be administered in an 
account different to those used for customs duties and shall be sent by the declarant, within the time frame specified in Article 172 of this Resolution , to the banking entity that is selected for that 
purpose by the National Customs and Excise Dire ctorate, in accordance with the guidelines 
provided for that purpose." 
ARTICLE 8. Article 523 of Resolution No. 4240 of 2000 shall be amended to read as follows: 
"Article 523. Guarantee in the event of a dispute regarding value For the purposes of 
Article 128.5 of Decree No. 2685 of 1999, the guar antee shall amount to 100% of the customs 
duties that may be generated by the difference between the value declared by the importer and 
the price determined in accordance with Article 17 2 of this Resolution by the competent official 
during the inspection. 
Where the goods concerned enjoy a partial or tota l exemption from customs duties, the guarantee 
shall amount to 100% of the USD f.o.b. value declared. G/VAL/N/1/COL/2 
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  The purpose of the guarantee is to ensure the pa yment of any duties to which the imported goods 
under dispute may be subject. 
The period of validity shall be two years". ARTICLE 9. Article 527 of Resolution No. 4240 of 2000 shall be amended to read as follows: 
"Article 527. Guarantee in the event of pr oblems in making the final determination 
of value. For the purposes of Article 13 of the WTO Va luation Agreement, where it is not possible 
to accept or determine the final customs value,  the guarantee shall amount to 200% of the 
declared customs duties. 
Where the goods concerned enjoy a partial or tota l exemption from customs duties, the guarantee 
shall amount to 100% of the USD f.o.b. value declared. 
The purpose of the guarantee is to ensure the pa yment of any duties to which the imported goods 
under dispute may be subject. 
The period of validity shall be two years". ARTICLE 10. Repeal. Article 159.7, the last subparagraph of paragraph 2 of Article 207, 
Articles 170, 431-1 and 431-2 of Resolution No. 4240 of 2000, and any other inconsistent 
provisions, shall be repealed. 
ARTICLE 11. Entry into force. This Resolution shall enter into force on the date of 
its publication. 
FOR PUBLICATION AND IMPLEMENTATION  
Done at Bogotá D.C. on 29 January 2010 
(ORIGINAL SIGNED) 
NESTOR DIAZ SAAVEDRA 
Director-General 
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