Valuation
Customs Value Adjustments
Modifications to the price paid or payable that must be added or subtracted to determine the transaction value of goods.
Modifications to the price paid or payable that must be added or subtracted to determine the transaction value of goods.
Value adjustments include items to be added (additions) or subtracted (deductions) from the invoice price to arrive at the true transaction value per the WTO Valuation Agreement.
Additions to Customs Value
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.
ValuationDeductions from Customs Value
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.
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.