The value for customs purposes of imported merchandise should be based on the actual value Is essential to determine the duty to be paid on an imported good.Īrticle VII of the General Agreement on Tariffs and Trade laidĭown the general principles for an international system of valuation.
If the rate of duty is ad valorem, the customs value 5 per cent) in order to arrive at theĪmount of duty payable on an imported item.Ĭustoms valuation is a customs procedure applied to determine Multiplied by an ad valorem rate of duty (e.g. Under this system, the customs valuation is In contrast, an ad valorem duty depends on the value of a good. Valuation are needed and the Valuation Agreement does not apply. The customs value of the good does not need to be determined, as the duty is notīased on the value of the good but on other criteria.
In case of a specific duty, a concrete sum isĬharged for a quantitative description of the good, for example USD 1 per item or per Back to top Specific and ad valorem customs dutiesĬustoms duties can be designated in either specific or ad
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