Customs Valuation Questionnaires
The KYG Trade Foundation’s Customs Valuation Committee has developed several questionnaires, modules, and reports to assist you with determining the appropriate value that should be declared to customs for your goods. In the vast majority of cases the price paid or payable for a good using the transaction value basis of appraisement adjusted for freight, insurance, and taxes, is the correct value that should be declared to customs upon import. Facts that may require a different basis of appraisement and/or post-importation adjustment to previously report declared value include: the relationship of parties, transfer price adjustments, royalty payments, commissions, research and development fees, software downloads, tooling and molds provided free of charge to the factory seller, etc. In these situations, it is highly recommended that you document and record your analysis and findings of how you arrived at the basis of appraisement and the policy and procedures for making and reporting adjustments to customs via the KYG Trade platform. All backup supporting documents and schedules will be immutably stored and recorded via KYG Trade to support a future customs audit. All data that is recorded and stored via KYG Trade is and always will be your data. Your sensitive and confidential data can be hidden from other stakeholders unless you provide private key access rights.
Customs Value Method Determination
Fill out our responsive online form to assist you with determining and documenting the correct customs value methodology (e.g., Transaction Value (TV), TV of Identical or Similar Goods, Deductive Value, Computed Value, Fallback Methods).
Start Questionnaire
Value Method = Transaction Value
Related Party Pricing
This questionnaire will assist you with determining and documenting if the price paid or payable to customs will be considered arm’s length using the circumstance of sale or test value methods in accordance with the GATT Valuation Agreement as well as WCO advisory opinions and commentaries.
Start Questionnaire
Findings = Arm’s length under circumstances of sale normal pricing practices of the industry.
Reporting Post-Importation Value Adjustment (e.g., royalties, tax transfer price adjustments, R&D, assists, etc.) to Customs
This module will assist you with determining and documenting the additional customs value, duty, fees and interest from a post-importation value adjustments. Information from this module can be used to prepare a post-importation customs value declaration/amendment and report the adjustment to customs authorities.
Start Module
First Sale Value Analysis
(US Only)
This module will assist you with determining and documenting whether your imported good’s qualify for duty savings under the First Sale for Export principle. The KYG Trade platform can be used to securely and immutably store and record documentation from participating factories and vendors to support future customs audits.
Caution
Though harmonized under the WTO GATT Valuation Agreement, customs value laws and regulations are highly complex and subject to varying interpretations under the local customs value laws and regulations of each country. This is especially true when the seller and buyer are related and/or royalties are paid between parties. It is always recommended that an independent 3rd party expert review and attest to the correct customs value methods and procedures.