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Customs 101: Methods of valuation for import duty
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This 1-hour webinar introduces methods for establishing the value on which customs duty is calculated. It will help importers to better understand their costs and potential savings.
Customs duty is often charged as a percentage of the value of your goods - which is often called ‘ad valorem duty’. The amount of duty an importer must pay depends on the customs value of their goods.
The webinar was delivered by Steve Cock from the UK Customs Academy and KGH Customs Services.
It covered:
- Overview of WTO valuation rules and EU legislation
- Methods of valuation
- Evidence to support the valuation
- What to do when you dispute a valuation
The UK Customs Academy is an essential resource for industry professionals that not only offers leading-edge training and education, but a unique range of individual and business membership benefits to support the profession, providing invaluable business resources, advice on industry best practice, and a virtual community for industry professionals.
The UK Customs Academy has been developed at the request of HM Revenue and Customs (HMRC) to support the development of a robust and sustainable customs intermediaries sector of the future, through investing in quality training and learning, up-skilling more people and making learning opportunities more flexible and accessible to all.
Customs duty is often charged as a percentage of the value of your goods - which is often called ‘ad valorem duty’. The amount of duty an importer must pay depends on the customs value of their goods.
The webinar was delivered by Steve Cock from the UK Customs Academy and KGH Customs Services.
It covered:
- Overview of WTO valuation rules and EU legislation
- Methods of valuation
- Evidence to support the valuation
- What to do when you dispute a valuation
The UK Customs Academy is an essential resource for industry professionals that not only offers leading-edge training and education, but a unique range of individual and business membership benefits to support the profession, providing invaluable business resources, advice on industry best practice, and a virtual community for industry professionals.
The UK Customs Academy has been developed at the request of HM Revenue and Customs (HMRC) to support the development of a robust and sustainable customs intermediaries sector of the future, through investing in quality training and learning, up-skilling more people and making learning opportunities more flexible and accessible to all.
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