This study takes off from an earlier inquiry on the effects of Home Consumption Value (HCV) valuation. It is intended to assist policymakers in examining the requirements for an effective implementation of the General Agreements on Tariffs and Trade Valuation Code (GVC). This study identifies several advantages and disadvantages under the GVC regime. Nevertheless, based on the findings of the study, the gains from implementing the GVC outweigh the potential losses as long as the legal framework and institutions for the World Trade Organization (WTO) compliance are in place.