What is customs value?
It is the declared value of the goods, used as the basis for import duties in the destination country. It is usually based on the actual selling price of the product.
Why you should not under-declare
- Customs may check and reassess the value, causing delays.
- Insurance and compensation are usually based on the declared value: declare low and you will be compensated low.
- False declarations can lead to fines and damage your account's reputation.
How it relates to duty-free thresholds
The declared value decides whether an order falls below the de minimis threshold. Declare honestly and price correctly so you can choose the right tax model.
Frequently asked questions
- Can I declare a lower value to avoid duties?
- It is not a good idea. Customs may reassess the value and hold the parcel, and insurance will only pay out on the low value you declared.
- Should I declare the cost price or the selling price?
- Usually the actual selling price of the goods; check the destination country's rules.
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