# basis for customs value assessment

*Last updated: 2026-06-18*

> The basis for customs value assessment is the legally determined value of goods on which customs duties and import taxes are calculated.

The basis for customs value assessment is the legally determined value of goods on which customs duties and import taxes are calculated. Under the WTO Customs Valuation Agreement, the transaction value – the price actually paid or payable for the goods – is the primary and preferred method. Where transaction value cannot be established or is rejected by customs, authorities apply a hierarchy of alternative methods: the value of identical or similar goods, the deductive method based on resale price, or the computed value method. For freight forwarders and importers, a well-documented valuation basis is essential to avoid post-clearance demands, delays, and penalties.

**Source:** [https://www.wcoomd.org/en/topics/valuation/overview/what-is-customs-valuation.aspx](https://www.wcoomd.org/en/topics/valuation/overview/what-is-customs-valuation.aspx)

## Quick Facts

| Property | Value |
|---|---|
| Term | basis for customs value assessment |
| Language | EN |
| Word count | 103 |
| Last updated | 2026-06-18 |
| Source | https://www.wcoomd.org/en/topics/valuation/overview/what-is-customs-valuation.aspx |

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