Trade
Customs Value
The monetary amount on which import duties are calculated, determined according to the WTO Valuation Agreement with transaction value as the primary method.
The monetary amount on which import duties are calculated, determined according to the WTO Valuation Agreement with transaction value as the primary method.
Customs value is the monetary base on which import duties (tariffs, DTA, VAT) are calculated. In Mexico, it is determined according to the WTO Valuation Agreement (Agreement on Implementation of Article VII of GATT), incorporated into the Customs Law in Articles 64 through 78-C. The primary and preferred method is the transaction value.
The transaction value must be adjusted by adding: international freight to the point of entry into Mexico, insurance, commissions and brokerage charges, containers and packing, assists (materials or services provided free by the buyer to the seller), and royalties related to the sale.
Correctly determining customs value is critical: declaring a value lower than the actual amount constitutes undervaluation (customs fraud) with severe penalties, while an excessive value results in unnecessary tax payments. Customs authorities apply risk profiles to detect suspicious value declarations.
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Learn more→Ad Valorem Tariff
An import duty calculated as a percentage of the customs value of goods. It is the most common type of tariff in international trade.
ValuationGeneral Import Tax (IGI)
The main import duty paid when bringing goods into Mexico, determined by the TIGIE tariff classification code.
DocumentsCommercial Invoice
Document issued by the seller/exporter describing the goods sold, their price, terms of sale, and details of the parties involved.
DocumentsCOVE (Electronic Value Voucher)
Electronic document that certifies the declared value of goods in the customs declaration, transmitted through Mexico's VUCEM system.