Customs Value

The value of an import shipment of goods according to the customs authority of the country of import. The customs value of a shipment is used as the key component in assessing import duties and taxes, and the reporting of statistical data on that shipment. The customs value is calculated differently from country to country. Some examples of customs value include:

  1. the transaction value of the goods in the country of origin,
  2. the FAS (Free Alongside Ship) value of the goods at the country of export,
  3. the CIF (Cost Insurance and Freight) value of the goods delivered to the country of destination.

See customs import value.

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