# Customs Value Declaration

*Last updated: 2026-06-26*

> Unlike the purchase price alone – which merely reflects the invoice amount – customs value is the authoritative basis for calculating import duties, import VAT, and other charges.

Unlike the purchase price alone – which merely reflects the invoice amount – customs value is the authoritative basis for calculating import duties, import VAT, and other charges. The starting point is the transaction value: the price actually paid or payable for the goods. Under the WTO Customs Valuation Agreement, specific costs are added to that price, including freight to the point of importation, insurance premiums, and commissions not already included in the purchase price. Where no invoice exists or the declared value is in doubt, customs authorities may apply alternative valuation methods, which can delay clearance and trigger additional assessments. For importers and freight forwarders, accurate customs valuation is both a legal requirement and a practical tool for cost predictability.

**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 | Customs Value Declaration |
| Language | EN |
| Word count | 121 |
| Last updated | 2026-06-26 |
| Source | https://www.wcoomd.org/en/topics/valuation/overview/what-is-customs-valuation.aspx |

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