Latest Revision Date (dd/mm/yyyy): 01/10/2012

Customs Value Declaration

The Customs Value Declaration is a document, which must be presented to the customs authorities where the value of the imported goods exceeds EUR 10 000. The Customs Value Declaration must be drawn up conforming to form DV 1, whose specimen is laid down in Annex 28 of Regulation (EEC) No 2454/93 laying down provisions for the implementation of the Community Customs Code. This form must be presented with the Single Administrative Document (SAD).

The main purpose of this requirement is to assess the value of the transaction in order to fix the customs value (taxable value) to apply the tariff duties.

The customs value corresponds to the value of the goods including all the costs incurred (e.g.: commercial price, transport, insurance) until the first point of entry in the European Union. The usual method to establish the Customs value is using the transaction value (the price paid or payable for the imported goods).

In certain cases the transaction value of the imported goods may be subject to an adjustment, which involves additions or deductions. For instance:

The customs authorities shall waive the requirement of all or part of the customs value declaration where: