General

Customs valuation, also known as customs price, refers to the customs valuation criteria formulated by China's customs valuation system based on relevant laws and regulations when customs levy tariffs based on ad valorem standards. What are the methods for customs to evaluate international trade import and export goods? Let's take a look together.

1. The CIF price of imported goods in international trade is based on the transaction price approved by customs as the dutiable price. If the transaction price cannot be determined after customs review, it shall be based on the transaction price of the same or similar goods purchased from the same exporting country or region of the goods. If it cannot be determined, the wholesale price of the same or similar imported goods in the domestic market shall be used, minus international trade import tariffs, import links or other taxes, as well as transportation, warehousing, operating expenses, and profits after import, as the dutiable price.

2. For some special imported goods, such as machinery, transportation tools, or other goods transported overseas for repair, if they have been reported to the customs at the time of exit and have been re transported out within the prescribed time limit, the customs approved repair and material costs shall be used as the dutiable value; For goods transported for processing abroad that have been declared to the customs at the time of exit and re transported into the country within the prescribed time limit, the difference between the landed price of the processed goods at the time of entry and the landed price of the original outbound goods or similar goods at the time of entry shall be used as the dutiable value; For leasing, including goods imported through leasing, the rent of the goods approved by customs shall be used as the dutiable price.

3. The offshore price of international trade export goods sold overseas based on customs approved goods, after deducting export taxes, shall be regarded as the dutiable price.

In short, the customs valuation determined dutiable value can not only be used to calculate taxes, but also serve as the basis for foreign international trade statistics, as well as the basis for calculating quota or license systems based on prices, and for collecting other import taxes and fees.