Glossary → Customs value
Customs value
Customs value is the value basis for assessing duties and VAT. It is most often determined by the transaction price with the addition of certain costs (delivery, insurance) up to the place of importation into the EAEU territory.
There are several methods of determining customs value; the main one is the transaction value of the imported goods. The value must be documented, otherwise customs may revise it (see KTS).
The amount of payments depends on a correctly declared customs value, so its justification is an important part of preparing the declaration.
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