Value of goods
The customs value of goods will be the transaction value, i.e. purchase price plus delivery costs, at the time of entry into the EU. Find out their characteristics
Declaration of value. What is document DV1 and waiver of filing
The customs value declaration is a document that must be submitted to the customs authorities when the value of imported goods exceeds 20,000 euros. It must be completed on form DV1, the model of which appears in Annex 8 of the Delegated Regulation ( EU ) 2016/341 of the Commission of December 17, 2015.
The main purpose of this requirement is to establish the value of the transaction in order to set the customs value (tax base) on which customs duties are applied.
Exemption from the presentation of DV1
The customs authorities may waive the obligation to provide the value declaration (document DV1) where the customs value of the goods in question cannot be determined by applying Article 70 of the Union Customs Code.
Furthermore, except when it is essential for the correct determination of the customs value, the customs authorities will waive the obligation to provide the value declaration (document DV1) in any of the following cases:
- When the customs value of the imported goods does not exceed EUR 20,000 per shipment and provided that the shipment is not part of split or multiple shipments sent by the same shipper to the same recipient.
- When the operation underlying the release of goods for free circulation is not of a commercial nature.
- Where the communication of the data in question is not necessary for the application of the common customs tariff.
- When the customs duties provided for in the common customs tariff are not payable.
Finally, if the exchange of goods takes place between the same seller and the same buyer on a continuous basis and under the same commercial conditions, the customs authorities may waive the requirement to provide the value declaration (document DV1).