Customs valuation

The customs value of goods is a key element in determining the amount of Customs Duty that will be payable. Other factors include the origin and the type of goods involved.

The value of goods used for customs purposes is usually the transaction value, that is the price actually paid or payable for the goods. This is the invoice price plus the cost of transport and insurance. It also includes any other payments made or to be made for the imported goods.

Valuation methods

There are six methods of valuation that apply in hierarchical order. If method 1 (transaction value) cannot be used then you should use the next method and so on:

  1. The transaction value method.
  2. The transaction value of identical goods.
  3. The transaction value of similar goods.
  4. The deductive method.
  5. The computed method.
  6. The residual valuation provision.

If you need further information see the customs manual on valuation.

Valuation indicators

The customs declaration must contain information relating to factors that may influence the price paid.  For example, the declaration must show if the buyer and seller are related. This information should be entered in Data Element 4/13 in the Automated Import System (AIS).

This information is essential where it may influence the correct customs value of the goods.

Otherwise, the obligation to provide this information is waived in the following cases:

  • The customs value of the imported goods in the consignment is €20,000 or less. In this case the goods may not be split or in multiple consignments from the same consignor to the same consignee.
  • The goods are of a non-commercial nature.
  • Where a long-term declaration has been registered with customs using a form G563A. (See below).

Long-term declaration

Importers may register for a long term declaration where there is continuing traffic in goods:

  • supplied by the same seller to the same buyer
  • and
  • under the same commercial conditions.

You can register by completing a long term declaration form. Once registered, you will be issued with an authorisation number.

You should enter this authorisation number and code 1DO3 in D/E 2/3 on the Automated Import System (AIS) when declaring goods covered by a long-term declaration.

You should send your completed long term declaration form to Revenue. You will find details to which Revenue Office to send your form to in Business self-assessment. You should insert your EORI number in the PPSN or TRN box and click ‘Find contact details’.

Note

Importers or their agents must declare consignments at import using Revenue's new Automated Import System (AIS). You will find further information in Automated Import System (AIS) or alternatively contact your Customs agent or Customs software provider.

Further information

If you require further information about valuation, contact the Origin and Valuation Unit.