Valuation
Customs Valuation Method
A procedure established by the WTO Valuation Agreement for determining customs value, applied hierarchically: transaction value, identical goods, similar goods, deductive, computed, and fallback.
A procedure established by the WTO Valuation Agreement for determining customs value, applied hierarchically: transaction value, identical goods, similar goods, deductive, computed, and fallback.
The 6 customs valuation methods are applied hierarchically. Transaction value covers over 90% of cases; the others are alternatives when transaction value cannot be determined.
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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.
ValuationIdentical Goods Value
The second customs valuation method using the transaction value of previously imported identical goods to determine customs value.
ValuationDeductive Value
The fourth customs valuation method starting from the domestic selling price in the importing country, deducting costs such as margins, transport, and duties.