Determining Customs Value Correctly
Customs value is the basis for calculating duties and import VAT. Correct determination is crucial – errors can lead to back payments or penalties.
Transaction Value Method
In most cases, customs value equals the transaction value – the price actually paid or payable. Requirement: The purchase must be between independent parties.
What's Included in Customs Value
The following must be added to transaction value (if not already included):
- Transport costs to EU entry point
- Insurance costs
- Loading/unloading costs
- Commissions (except buying commissions)
- Royalties and license fees
- Tools and molds provided by buyer
What's Not Included
The following can be deducted (if separately stated):
- Transport within EU after import
- Installation and maintenance costs
- Technical assistance after import
- Import duties
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About the Author
Zolltarifnummer Service
Our expert team at webpowers UG combines years of experience in international trade with cutting-edge AI technology. We help businesses find the correct customs tariff numbers for their products.
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