In Chile, the valuation rules are those of the General Agreement on Tariffs and Trade WTO agreement. The first valuation method is the transaction value, if the importer is a company related to the exporter, this value must be justified. Chilean customs valuation uses the normal value of merchandise, without special discounts, plus freight and insurance (CIF). Used goods are valued by the customs service according to the current new value of similar merchandise, discounting 10 percent per year of use, up to a 70 percent discount. More information is available through Chilean Customs.