Reference value

Definition and principle

Reference value is a risk analysis tool used by customs authorities to detect undervaluation or overvaluation of imported goods. It corresponds to the average customs value observed for identical or similar goods imported under comparable conditions, and serves as an alert threshold to trigger in-depth controls.

Legal framework

Reference values are not directly provided for by the UCC as a valuation method. They are used as a risk management tool within the EU common risk management framework (Implementing Regulation 2015/2447, articles 46 to 49). They can never be used as minimum values for customs valuation purposes (which would be contrary to the WTO Customs Valuation Agreement). The European Commission and Member States exchange risk profiles including reference values.

Practical use

• Customs risk management systems automatically compare declared values against reference values
• If the declared value is significantly lower than the reference value, a control is triggered (request for supporting documents, physical inspection, sampling)
• Reference values are calculated from statistical databases of past imports, analysed by HS code, country of origin, and delivery conditions
• They are regularly updated to reflect market evolution

Limitations and cautions

• Reference values are indicative and do not constitute a customs valuation method in their own right
• A price below the reference value is not necessarily incorrect — the importer can justify their price with specific commercial conditions (volume discounts, end-of-line, etc.)
• The misuse of reference values as minimum values by certain customs administrations is regularly challenged before the WTO