March 20, 2022
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Intrinsic value (e-commerce)

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What is the term 'intrinsic value' used for in customs?

The term 'intrinsic value' is used in several fields, such as investment, taxation, etc. In simple terms, it means the real value of an asset.

For customs purposes, the intrinsic value (note, it is not the 'customs value') of an item is important for the calculation of import VAT upon the importation of low-value consignments. The term is used for other purposes as well. For example, the lodging of an entry summary declaration might be waived in respect of goods in a consignment, the intrinsic value of which does not exceed 22 EUR.

What is the 'intrinsic value' of the goods?

Article 1(48) of the Regulation (EU) 2015/2446 sets out the definition of the term 'intrinsic value'.

Intrinsic value for commercial goods is the price of the goods themselves when sold for export to the customs territory of the Union, excluding transport and insurance costs, unless they are included in the price and not separately indicated on the invoice. Any other related costs, that do not reflect the value of the goods in themselves, must also be excluded from the intrinsic value, whenever they are separately and clearly indicated in the invoice (e.g. tooling costs, license fees, export tax, etc.).

Example 1. No information on additional costs
Item’s price: 100 EUR
Intrinsic value: 100 EUR

Example 2. Transport and insurance costs are separately indicated
Item’s price: 100 EUR
Transport costs: 18 EUR
Insurance costs: 5 EUR
Intrinsic value: 100 EUR

Intrinsic value for goods of a non-commercial nature is the price that would have been paid for the goods themselves if they were sold for export to the customs territory of the Union. The definition should also be understood in the same vein as for the commercial goods, meaning the value of the goods themselves, excluding any other costs, taxes or charges mentioned above.

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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