GlossaryEN1 min readUpdated: Jun 23, 2026
Customs Value Declaration
When a commercial invoice alone does not fully establish the transaction value of an imported shipment, the importer must submit a Customs Value Declaration alongside it.
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Source: https://www.wto.org/english/tratop_e/cusval_e/cusval_e.htm
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Passar Hub: Everything on the new Swiss customs system
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Definition & Explanation
When a commercial invoice alone does not fully establish the transaction value of an imported shipment, the importer must submit a Customs Value Declaration alongside it. The document records the dutiable value: the purchase price plus all cost elements forming part of the customs value—freight, insurance, commissions, and comparable charges to the point of entry. Import duties and applicable taxes are assessed on this declared basis. If the stated value appears implausibly low or supporting documentation is missing, customs may adjust the figure or apply an alternative valuation method in the sequence prescribed by the WTO Customs Valuation Agreement. Deliberate misrepresentation constitutes a customs offence and can result in significant penalties.
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