The General Directorate of Customs announced that the changes that are being made in the valuation of imported articles reflects agreements reached with the World Trade Organization (WTO). The Customs office said that it is obliged to apply the customs valuation code adopted by GATT. These adjustments effectively neutralize the customs rates reductions that were recently adopted as part of the new tax package. The government had Congress pass a new tax package supposedly to compensate for the drop in government income the rates reductions would have brought.
