Customs
Customs value
The value of imported goods on which ad valorem duty and taxes are assessed, normally the transaction value on a CIF basis.Customs value is determined under the WTO Customs Valuation Agreement, primarily as the transaction value — the price actually paid or payable — adjusted to include freight and insurance to the border, i.e. a CIF-equivalent value. In the EAEU the six valuation methods are applied in strict sequence, and customs may reassess a value that appears understated relative to risk profiles.
Frequently asked questions
- Is customs value based on FOB or CIF?
- In the EAEU and most CIF-based systems it includes freight and insurance to the border, so it is effectively a CIF value rather than a bare FOB price.
- What is the primary method for customs valuation?
- The transaction value method — the price actually paid for the goods with prescribed additions — is the primary method, used before the fallback methods.