Customs value

Customs value is the basis for calculation of customs payments imposed on goods. Customs value may include, along with the invoice value, the cost of insurance, licensing, cargo transportation and other costs, depending on the agreed INCOTERMS 2020 terms of delivery.

There are several methods for determining goods customs value. These methods are specified by article 5 of the EAEU Customs Code.

Customs value is always calculated in rubles. Foreign currency is recalculated in rubles at the rate of the Central Bank of the Russian Federation as of the day of the customs declaration.

Value risks

Customs value control is one of the common actions of customs authorities within the framework of risk management system RMS. RMS is a set of measures aimed at reducing infringements of rules of laws in the field of customs regulation.

In the case of importation of goods at a low customs value, due, for example, to the low purchase price of the goods, reliability of the declarant’s information regarding the goods customs value may raise doubts of customs authority official. At the same time the declarant may not know that the declared customs value is below average, and its goods are in “risks” as information about the value risks is confidential and is based on developed and existing risk profiles. This may result in commencing procedure to prove the stated customs value. In this case the declarant or its representative will have to provide information throughout the procurement chain, including contracts with all prices and price-sheets, to prove the purchase value, extra charge and sale value of the goods.

Years of experience of WR Group specialists will allow assessing the value at risk in advance and take required actions to avoid a long-term customs declaration procedure.

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Customs calculator

Using customs calculator, you can calculate the amount of customs payments that you will have to make when goods crossing customs borders in accordance with the law of the EAEU.

• Payments calculator of Russian Railways 
• Simplified customs payments calculator