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What is the transaction value?

The customs value of imported goods subject to ad valorem duties in accordance with paragraph 1, Article 29 of the Customs Act shall be determined and calculated on the basis of the transaction value. The term "transaction value" means the price actually paid or payable for the imported goods sold from the exporting country to the Republic of China in accordance with paragraph 2, Article 29 of the Customs Act. According to WTO VALUATION AGREEMENT Note to Article 1, the payment need not necessarily take the form of a transfer of money. Payment may be made by way of letters of credit or negotiable instruments and may be made directly or indirectly. An example of an indirectly payment would be the settlement by the buyer, whether in whole or in part, of a debt owed by the seller.
[Case] ​​Company A ordered a batch of toys from Company B and paid the price of 2,000 dollars, in fact, the original selling price of the goods was 3,000 dollars, and the final price of the batch was reduced to 2,000 dollars due to company B owed company A 1,000 dollars before. Therefore, the transaction value of the batch of goods should be 3,000 dollars.


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Data Source

Department of Audit Affairs

  • Publish Date:2020-06-02
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