For EU imports, customs value is the economic value of imported goods determined under the Union Customs Code valuation framework. Transaction value is the primary method, subject to specified additions and deductions; other methods may apply.[1]
Do not blindly use the item price as the valuation base. Examine the relevant costs and transaction arrangements. Customs value also differs from total landed cost, which may include additional cost categories.
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Compiled with AI assistance using public sources. General explanation, not individual legal or tax advice. Describing a concept does not mean Zoloo offers it as a feature.