Customs value adjustment (KTS)
KTS is a customs value adjustment: a customs decision to change the declared value of goods, as a rule upward, which leads to additional charges of duties and VAT.
Customs may doubt the reliability of the value if it is lower than the price benchmarks for similar goods. An additional check is then assigned and documents confirming the price are requested: the contract, invoice, proof of payment, export declaration and the manufacturer's price list.
The cargo can be released against a security for payment of duties and the adjustment can be contested, either administratively or in court. If the KTS is cancelled, the overpaid amounts are refunded. Careful advance preparation of value documents reduces the risk of a KTS.
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