Customs value
Also called: dutiable value · gümrük kıymeti
The value of imported goods on which ad valorem duties are calculated. Almost all countries follow the WTO Customs Valuation Agreement, under which the primary basis is the transaction value, adjusted by specified additions and deductions. The EU, Türkiye and the UK use a value delivered to the border, while the United States uses a value that excludes international freight and insurance.
In practice
Duty is a percentage of this figure, so freight, royalties, tooling or buying commissions handled incorrectly change the duty on every shipment.
EU
Türkiye
USA
UKRelated terms
- Transaction value
- The price actually paid or payable for goods when sold for export to the importing country, adjusted for items such as commissions, packing, assists,…
- CIF (valuation basis)
- As a valuation basis, CIF means the price of the goods plus the cost of insurance and transport up to the place where goods enter the customs…
- FOB (valuation basis)
- As a valuation basis, FOB means the value of goods loaded on board at the port of export, without international freight and insurance. The United…
- Secondary valuation methods
- Methods used when transaction value cannot be applied, in a fixed order: the value of identical goods, the value of similar goods, a deductive value…
- Royalties and licence fees
- Payments for the use of trademarks, patents, designs or know-how that relate to imported goods and are paid as a condition of their sale. Under…
- Assists
- Goods or services supplied free or at reduced cost by the buyer for use in producing the imported goods, such as moulds, tools, components or…