Valuation
Post-Clearance Valuation Audit
Customs authority power to verify, after clearance, that the declared value in the pedimento corresponds to the actual value of goods.
Customs authority power to verify, after clearance, that the declared value in the pedimento corresponds to the actual value of goods.
Post-clearance audit allows customs to verify up to five years after clearance that the declared value was correct. If undervaluation is detected, tax assessments for duty differences plus penalties are issued.
Customs Valuation
Process of determining the customs value of imported goods using the six methods of the WTO Valuation Agreement, used to calculate duties and taxes.
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.
CustomsCustoms Audit (Post-Clearance)
A post-clearance review conducted by Mexican customs authorities on filed pedimentos and supporting documents to verify the accuracy of declared information.
ValuationCustoms Undervaluation
The illegal practice of declaring customs value below the actual price to reduce duties. A serious infraction with fines of 130-150% of omitted duties, seizure, and possible criminal liability.