When shipping international parcels, an important concept to understand is valuation. The declared value is a key determinant of the import process and duty assessment. Over declarations result in needless costs and under-declarations can result in significant fines and legal actions.
When shipping international parcels, an important concept to understand is valuation. The declared value is a key determinant of the import process and duty assessment. Over declarations result in needless costs and under-declarations can result in significant fines and legal actions.
When shipping internationally, a common question we get is "what value should we declare." The value declaration is, along the the H.S. classification, the key element of the import process and duty assessment. Over declarations result in needless costs and under-declaration of values can result in significant fines and legal actions.
Value plays a pivotal role in international customs. It forms one of the cornerstone of import and export processes. The correct determination of the value for customs is essential. The value of goods is the basis for the calculation of customs duties, taxes, and fees. Additionally, value is an important data point used by governments. Trade policies, tariff rates, and trade agreements rely on a standardized valuation process.
