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
Transaction value. Definition
It is the main method of valuation in customs.
It is the price actually paid or payable for the goods when they are sold for export to the customs territory of the Union, adjusted, where appropriate.
The transaction value will be applied provided the following conditions are met:
- that there are no restrictions on the use or disposal of the goods by the buyer
- that neither the sale nor the price are subject to conditions or considerations that prevent the value of the goods to be valued from being determined,
- that none of the benefits derived from the resale, transfer or subsequent use of the goods by the buyer directly or indirectly pass on to the seller, unless the value can be appropriately adjusted
- that there is no connection between buyer and seller or the connection has no influence on the price
It follows from the definition of transaction value that in order to apply the transaction value method as a valuation method, it is necessary that there is a sale that this sale has been for export to the customs territory of the Union , which means, first of all, excluding those transactions that are not.
There is no sale when free supplies are made (gifts, donations, samples, etc.), imported goods in execution of a rental or leasing contract, goods delivered on loan that remain the property of the sender, etc.
In these cases we will have to resort to methods other than the transaction value method.
The sale must also be made for export to the customs territory of the Union , regardless of the seller's place of residence, which may be in any country, including the country of import.