GlossaryEN1 min readUpdated: Jun 23, 2026
Customs Duty Valuation Logistics
Freight forwarders and customs declarants determine the customs value of a shipment using the methods established under the WTO Customs Valuation Agreement, with the transaction value – the price actually paid or payable – serving as the primary basis.
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Source: https://www.wto.org/english/tratop_e/cusval_e/cusval_e.htm
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Definition & Explanation
Freight forwarders and customs declarants determine the customs value of a shipment using the methods established under the WTO Customs Valuation Agreement, with the transaction value – the price actually paid or payable – serving as the primary basis. This figure underlies the calculation of import duties, import VAT, and other charges, and must reflect all relevant cost elements: freight, insurance, and commissions are included or excluded depending on the agreed delivery terms. Accurate valuation requires complete documentation; the commercial invoice, transport documents, and insurance certificates must all be on file. In practice, an incorrect or incomplete declared value triggers additional duty assessments, clearance delays, and heightened customs scrutiny. Customs valuation is distinct from tariff classification, which concerns the categorisation of goods under the Harmonised System rather than their monetary value.
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