The Director of Customs, Vicente Sanchez Baret, has confirmed that the implementation of the GATT on 1 July will mean imported goods sold locally will be more expensive. At present the government uses a sub-valued price list to calculate taxes. For example, El Siglo reports that on the present list a washing machine is valued at US$200. Under GATT, this would increase to its real market value of US$361. On 1 July, taxes will be levied on the real value of products.
