April 19, 2020
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Customs value

Photo by Omid Armin on Unsplash

The customs value of goods is the basis for the assessment of duties and taxes. It would be complicated for international trade to operate if each country would use its own valuation methods. Therefore international valuation rules were developed. These rules are also used for the purposes of trade statistics, trade agreements and to monitor quantitative restrictions.

“Customs value“ of imported goods on the international scale means the value as determined in accordance with the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 (WTO Agreement on Customs Valuation).

WTO Agreement on Customs Valuation sets out that the value for customs purposes of imported merchandise should be based on the actual value of the imported merchandise on which duty is assessed, or of like merchandise, and should not be based on the value of merchandise of national origin or on arbitrary or fictitious values.

"Actual value" should be the price at which, at a time and place determined by the legislation of the country of importation, such or like merchandise is sold or offered for sale in the ordinary course of trade under fully competitive conditions. To the extent to which the price of such or like merchandise is governed by the quantity in a particular transaction, the price to be considered should uniformly be related to either (i) comparable quantities, or (ii) quantities not less favorable to importers than those in which the greater volume of the merchandise is sold in the trade between the countries of exportation and importation.

Please find the text of Article VII. This document is published on the WCO website.

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Comments ()

en
Do you swear to tell the truth? Israeli "importer's affidavit" concerning customs valuation
26-03-2023

The Israeli customs authority has, as I believe, invented an original tool to gain more information about specific goods valuation process, even before officially starting an audit. The tool is called the "importer's affidavit". As far as I know, there is no similar requirement in other jurisdictions.

Omer Wagner

value of goods
en
Do you swear to tell the truth? Israeli "importer's affidavit" concerning customs valuation
26-03-2023

The Israeli customs authority has, as I believe, invented an original tool to gain more information about specific goods valuation process, even before officially starting an audit. The tool is called the "importer's affidavit". As far as I know, there is no similar requirement in other jurisdictions.

Omer Wagner

value of goods
lt
Kaip tinkamai deklaruoti mažos vertės nukainotas prekes?
22-03-2023

Kuo turėtų pasirūpinsi apdairus ir rūpestingas ūkio subjektas, kad kuo mažiau kiltų rūpesčių importuojant pigesnes, nukainotas, praėjusio sezono prekes ir deklaruojant jas muitinei? Kada muitinė atmes importuojamoms prekėms sandorio vertės metodą ir taikys kitus muitinio įvertinimo metodus?

Jurgita Stanienė

value of goods
lt
Kaip tinkamai deklaruoti mažos vertės nukainotas prekes?
22-03-2023

Kuo turėtų pasirūpinsi apdairus ir rūpestingas ūkio subjektas, kad kuo mažiau kiltų rūpesčių importuojant pigesnes, nukainotas, praėjusio sezono prekes ir deklaruojant jas muitinei? Kada muitinė atmes importuojamoms prekėms sandorio vertės metodą ir taikys kitus muitinio įvertinimo metodus?

Jurgita Stanienė

value of goods
image en
Customs valuation and transfer pricing adjustments
21-02-2023

Monika Bielskienė

value of goods
image en
Customs valuation and transfer pricing adjustments
21-02-2023

Monika Bielskienė

value of goods
en
Binding Valuation Information (BVI) decisions in the EU: the pros and cons
05-02-2023

Biding tariff and binding origin information decisions are used in the EU and provide legal certainty to economic operators regarding the correct determination of the tariff code and origin of their goods. What about the introduction of the same measures with regard to valuation? In the following article, we highlight some points on this topic.

Georgi Goranov

value of goods
en
Binding Valuation Information (BVI) decisions in the EU: the pros and cons
05-02-2023

Biding tariff and binding origin information decisions are used in the EU and provide legal certainty to economic operators regarding the correct determination of the tariff code and origin of their goods. What about the introduction of the same measures with regard to valuation? In the following article, we highlight some points on this topic.

Georgi Goranov

value of goods
lt
Kaip sutaupyti importo mokesčių? arba Kuo svarbi pirmoji įvežimo į ES vieta?
01-02-2023

Skaitytojo klausimas: Prekės iš Taivano FOB sąlygomis gabenamos į Klaipėdą. Pakeliui Hamburgo uoste perkraunamos (tik perkraunamos, daugiau niekas neatliekama) iš vieno konteinerinio laivo į kitą. Ar importuotojas gali transportavimo Hamburg – Klaipėda kaštus traukti tik į PVM apmokestinamąją vertę (t. y. neapmokestinti muitu)? Jei taip, ką daryti tokiu atveju, kai vežėjo sąskaitoje yra nurodyta bendra suma už visą maršrutą – ar užtektų jo pažymos dėl transportavimo kainos Hamburg - Klaipėda?

value of goods
lt
Kaip sutaupyti importo mokesčių? arba Kuo svarbi pirmoji įvežimo į ES vieta?
01-02-2023

Skaitytojo klausimas: Prekės iš Taivano FOB sąlygomis gabenamos į Klaipėdą. Pakeliui Hamburgo uoste perkraunamos (tik perkraunamos, daugiau niekas neatliekama) iš vieno konteinerinio laivo į kitą. Ar importuotojas gali transportavimo Hamburg – Klaipėda kaštus traukti tik į PVM apmokestinamąją vertę (t. y. neapmokestinti muitu)? Jei taip, ką daryti tokiu atveju, kai vežėjo sąskaitoje yra nurodyta bendra suma už visą maršrutą – ar užtektų jo pažymos dėl transportavimo kainos Hamburg - Klaipėda?

value of goods
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