Transaction value
Price actually paid or payable for imported goods, constituting the primary basis for customs value under the WTO Customs Valuation Agreement.
Definition and principle
Transaction value is the primary method for determining the customs value of imported goods. It corresponds to the price actually paid or payable for the goods when sold for export to the EU customs territory, adjusted in accordance with regulatory provisions.
Legal framework
Transaction value is governed by articles 70 to 74 of the UCC (Regulation EU 952/2013), which transpose Article VII of the GATT and the WTO Customs Valuation Agreement (Agreement on Implementation of Article VII of GATT 1994). Delegated Regulation 2015/2446 (articles 71 to 76) and Implementing Regulation 2015/2447 detail the implementation modalities.
Constituent elements
The price actually paid or payable must be adjusted by adding certain elements (if not already included):
- Commissions and brokerage fees (excluding buying commissions)
- Cost of containers and packing
- Assists: materials, components, tools supplied by the buyer
- Royalties and licence fees related to the goods
- Proceeds of resale accruing to the seller
- Transport and insurance costs to the point of introduction into the EU customs territory
Conditions for application
- There must be an actual sale for export to the EU
- The buyer must not be subject to restrictions as to the disposition or use of the goods (except legal or geographic restrictions)
- The sale must not be subject to conditions the value of which cannot be determined
- No part of the proceeds of resale must accrue to the seller (except with adjustment)
- Buyer and seller must not be related, or if related, the relationship must not have influenced the price