Customs Valuation Methodology of Products
In accordance with the World Trade Organization, TecEx follows its methodology of valuation for customs clearance. The purpose of the valuation of imported goods is to accurately determine ad valorem duties for all imported goods.
Following a hierarchical structure, if the first method does not apply, move on to the next step.
Customs Valuation in the International Trade Process
Customs valuation is essential to international trade. It ensures the accurate assessment of duties and taxes on imported goods by establishing internationally recognized methodologies for determining their value.
Compliance with these standards enables customs authorities to prevent undervaluation practices, thereby safeguarding against lost tax revenue. Additionally, it promotes fairness in trade by ensuring uniform duty payments across businesses dealing in similar goods.