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Glossary

Customs Valuation

Customs valuation is the process of determining the economic value of commodities declared for importation. The customs value, together with origin and classification, serves as the foundation for determining the customs debt, which is often computed as a percentage of the customs value.

There are six methods of customs valuation:

  1. The transaction value method
  2. The transaction value of similar goods
  3. The transaction value of identical goods
  4. The computed method
  5. The fall-back method
  6. The deductive method

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