What is Customs Valuation?
In this glossary, Customs Valuation refers to: The procedure for determining the customs value of imported goods, generally based on the transaction value, for the purpose of calculating duties, taxes, and for customs compliance under WTO and WCO rules.
How is Customs Valuation used in logistics?
In logistics communication, this term appears in contexts such as: "Customs valuation of goods must be documented in the import declaration and supported by commercial invoice and shipping documents."
Why does Customs Valuation matter in logistics?
Customs Valuation matters because it supports clear communication in Customs contexts for Freight Forwarders, Supply Chain Managers, and Customs Brokers. It also connects to aviation training and exam language such as FIATA Diploma, CILT Certification, and IATA DGR.
Who uses Customs Valuation?
Customs Valuation is mainly used by Freight Forwarders, Supply Chain Managers, and Customs Brokers.
What category does Customs Valuation belong to?
In this glossary, Customs Valuation is grouped under Customs. Related pages in this category explain adjacent procedures, commands and operational concepts.
Where does this definition come from?
This definition is sourced from Incoterms 2020 (ICC), FIATA, IATA DGR, WCO and published by Protermify Logistics as a static logistics reference page.
