Warehouse & Logistics Encyclopedia
Your comprehensive guide to warehouse, logistics, and supply chain terminology. Explore over 100+ industry terms with detailed explanations and practical insights.
Customs Valuation
Determining the monetary value of imported goods for duty calculation.
Definition
Customs valuation establishes the value of goods for calculating import duties, taxes, and tariffs based on international rules.
Overview
Accurate customs valuation is critical to comply with trade laws and avoid fines or delays.
Role
Determining the monetary value of imported goods for duty calculation.
Focus
Accurate customs valuation is critical to comply with trade laws and avoid fines or delays.
Example
A shipment of electronics is valued based on invoice price plus shipping costs to determine import duty.
FAQs
Q: Can you give an example of Customs Valuation?
A: A shipment of electronics is valued based on invoice price plus shipping costs to determine import duty.