Valuation
Similar Goods Value
Also known as: Method 3 valuation, Value of similar goods
The third customs valuation method using the transaction value of previously imported similar goods when no identical goods reference exists.
Also known as: Method 3 valuation, Value of similar goods
The third customs valuation method using the transaction value of previously imported similar goods when no identical goods reference exists.
The similar goods value is the third customs valuation method. Used when no identical goods reference exists, it employs the transaction value of similar goods: products that while not identical, share characteristics, perform similar functions, and are commercially interchangeable.
Stay MVE compliant
Learn more→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.
ValuationIdentical Goods Value
The second customs valuation method using the transaction value of previously imported identical goods to determine customs value.
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.