Updated Guidelines in EU Customs Valuation Compendium: Key Revisions for Accurate Goods Valuation

• European Commission released updated guidelines in the Customs Valuation Compendium in April 2024
• Customs valuation determines economic value of goods imported into the EU
• EU applies 6 valuation methods, with transaction value method being primary
• Compendium helps customs authorities and businesses correctly value goods for customs purposes
• Recent updates include valuation of damaged goods, buying commissions, and prototype cars
• EU Customs Valuation Compendium is crucial for accurate valuation in customs processes
• Be aware of the high relevance of customs value in the EU
• Use the Compendium as a key resource for understanding and applying EU customs valuation rules.

Source: michaelamerz.org

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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