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Movement Towards Visa-Free Regime with EU Is Slow, Medvedev Said

2016-04-26 (23:03)

Russian Prime Minister Dmitry Medvedev has said he’s frustrated with the slow pace ...


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Port of Antwerp Experiences Slight Decline in Freight Volumes

2016-04-28 (22:59)

The port of Antwerp handled 138,905,003 tonnes of freight during the first nine months...


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Container Cargo Turnover at Latvian Ports Increased by 23.8% in January-September

2016-03-26 (23:28)

Container cargo turnover at Latvian ports grew by 23.8% in the fir...


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Is value calculation a criterium of work?

Value calculation is the most important part of the customs clearance. For the adequate calculating it needs to define HCDCS code of goods and calculate goods' customs cost.

The most common way of value calculations is ad valorem method. This method assumes withdrowing of some percentage from the price of goods. This percentage can vary according to the country-supplier.

For calculating customs value six methods of calculation are used. They are implemented sequentially and are mutually exclusive:

1. Definition of cargo value using price of a deal;

2. Definition of cargo value using price of a deal with the equivalent goods;

3. Definition of cargo value using price of a deal with the goods of the same type;

4. Definition of cargo value using method of subtraction the additional expenses from the cargo value if the goods are sold in the customs native country;

5. Method of summation delivering and production expenses;

6. The additional method for defining cargo value (is used when it's impossible to use the other five methods).

The resulted customs value is checked by customs officers who corrects it if there is such a necessity.

Customs payments also include customs service expenses. All these payments are usually merged in a unified customs duty.