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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

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Secondary valuation methods. When are they used and what are they?

In cases where the customs value cannot be determined using the transaction value, the customs valuation regulations provide for five secondary procedures to determine the value:

  1.    Transaction value of identical goods.
  2.    Transaction value of similar goods.
  3.    Subtractive or deductive procedure (unit price).
  4.    Additive or calculated value procedure.   
  5.    Last resort procedure.

Note: These methods should be applied in the same order as they are listed (except 3 and 4, which can be reversed).