Customs Value Only

396

Some shipments involve no actual monetary transaction between the exporter and the consignee, such as shipments for repair under warranty, or shipments of items used for display at trade shows. These shipments are still subject to duties and taxes, and exporters must list the items’ value on the customs invoice to enable the customs authority in the country of import to assess how much duty the importer must pay. The exporter should include a customs value-only statement on the invoice in these cases.