Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Should an importer declare a value for goods that are exempted from customs duty or are subject to specific duties?

April 26, 2017Customs declare duty exempted importer Subject value

0

Posted

Should an importer declare a value for goods that are exempted from customs duty or are subject to specific duties?

1 Answer

0

Posted

Ans: Yes, as most countries require a declaration of value of all imported goods for compilation of Trade Statistics. Some countries may also require such a declaration for tariff quota, import licensing or exchange control purposes.