# Customs Value Declaration

*Last updated: 2026-06-26*

> When filing a customs entry, brokers, freight forwarders, and importers must substantiate the customs value of the goods – that is, the dutiable price or value on which import duties are calculated.

When filing a customs entry, brokers, freight forwarders, and importers must substantiate the customs value of the goods – that is, the dutiable price or value on which import duties are calculated. Under WTO customs valuation rules (the GATT Customs Valuation Agreement), the primary method is the transaction value: the price actually paid or payable, adjusted for costs such as freight and insurance to the point of importation. Supporting evidence typically includes commercial invoices, proof of payment, or price agreements; where the declared value is in doubt, customs may apply alternative valuation methods. The customs value and the tariff classification together determine the final duty liability. Errors or undervaluation trigger back-payments and can result in penalties.

**Source:** [https://www.wto.org/english/tratop_e/cusval_e/cusval_e.htm](https://www.wto.org/english/tratop_e/cusval_e/cusval_e.htm)

## Quick Facts

| Property | Value |
|---|---|
| Term | Customs Value Declaration |
| Language | EN |
| Word count | 116 |
| Last updated | 2026-06-26 |
| Source | https://www.wto.org/english/tratop_e/cusval_e/cusval_e.htm |

---

*Logistics Glossary — Freight Academy: [https://www.freight-academy.com/en/glossary/customs-value-declaration-3](https://www.freight-academy.com/en/glossary/customs-value-declaration-3)*

*Markdown mirror: [https://www.freight-academy.com/api/md/glossary/en/customs-value-declaration-3](https://www.freight-academy.com/api/md/glossary/en/customs-value-declaration-3)*

*JSON summary: [https://www.freight-academy.com/api/v1/glossary/customs-value-declaration-3/llm-summary?lang=en](https://www.freight-academy.com/api/v1/glossary/customs-value-declaration-3/llm-summary?lang=en)*