GlossaryEN1 min readUpdated: Jun 26, 2026

customs value assessment

Reliable customs clearance starts with correctly establishing what goods are worth for duty purposes—that is the function of customs value assessment.

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Last updated: 26 June 2026Published: 27 January 2026

Source: https://www.wcoomd.org/en/topics/valuation/overview/what-is-customs-valuation.aspx

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Logistics Concept

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Definition & Explanation

Reliable customs clearance starts with correctly establishing what goods are worth for duty purposes—that is the function of customs value assessment. The customs authority uses it to fix the taxable base on which import duties, VAT and other charges are calculated. Under the WTO Customs Valuation Agreement and EU customs legislation, the transaction value takes precedence: the price actually paid or payable, adjusted for prescribed additions such as freight costs to the point of entry into the customs territory. When the transaction value cannot be applied—for example because a buyer–seller relationship has influenced the price—secondary methods come into play: the value of identical goods, the value of similar goods, the deductive method, the computed value method, and finally the fall-back method. Customs declarants and freight forwarders are legally required to declare the customs value accurately; incorrect entries can lead to post-clearance demands, administrative fines or criminal proceedings.

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Calculate customs valueWork out import duties and customs valueOpen Calculate transport costWork out freight / road costOpen Find HS codeDetermine the tariff number for customsOpen Compare IncotermsClarify duties, cost and riskOpen

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