Also known as: Deductions, Value deductions
Expenses that may be subtracted from the price paid: transport after entry point, inland insurance, loading/unloading in national territory, and post-import assembly and installation.
Article 66 allows deducting expenses included in the invoice if distinguishable from price: transport after entry point, inland insurance, loading/unloading in national territory, and assembly/installation.
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Expenses that must be added to the price paid to determine transaction value: selling commissions, packaging, assists from importer, royalties, and transport/insurance costs to entry point.
ValuationTransaction Value
The price actually paid or payable for imported goods, adjusted as prescribed by the WTO Valuation Agreement. It is the primary method for determining customs value.
TradeCustoms Value
The monetary amount on which import duties are calculated, determined according to the WTO Valuation Agreement with transaction value as the primary method.
ValuationPrice Actually Paid or Payable
The total payment the buyer makes or will make to the seller for imported goods, constituting the basis of transaction value. Includes direct payments, indirect payments, advances, and compensations.