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The most common method for valuing any import is to use the ‘transaction value’, which is the price the importer actually paid (or is going to pay) for the goods.
A number of conditions must be met to use the transaction valuation method and it can involve deductions or additions such as commissions or royalties.
When the transaction value cannot be used, one of these alternative methods will be used to determine the Customs value:
1) Identical goods value – the price of identical goods sold for export to Australia.
2) Similar goods value – the price of similar goods sold for export to Australia
3) Deductive value – the price in a sale in Australia of the imported goods, identical goods or similar goods. This price must be adjusted for costs etc incurred between the “place of export” and the sale in Australia.
4) Computed value – this is based on the price of producing the goods, general expenses, other costs and profits relating to the imported goods
5) Fall-back value – where no other methods are suitable, Customs and Border Protection will determine the value by taking into account the above valuation methods and any other relevant information.
source: www.customs.gov.au |
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