On 15 July, the UK Customs Academy released this 1-hour video presentation which introduces methods for establishing the value on which customs duty is calculated. It provided an overview of WTO valuation rules and EU legislation, methods of valuation, evidence to support the valuation, and what to do when you dispute a valuation. Customs duty is often charged as a percentage of the value of your goods – which is often called ‘ad valorem duty’. The amount of duty an importer must pay depends on the customs value of their goods, but there are various methods by which to reach the “customs value”.
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