What is Valuation Adjustment?
Valuation Adjustment An official modification to the customs value of goods declared for import, reflecting post-transaction elements (such as assists, royalties, or rebates), calculated per WTO Customs Valuation Agreement and applied to determine applicable duties and taxes on transport documents.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Valuation Adjustment” Used in Practice?
A valuation adjustment was applied to the customs declaration after the invoice price was found to exclude royalty payments, in compliance with Article 8 of the WTO Customs Valuation Agreement.
Certification Exam Relevance
Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
Learn “Valuation Adjustment” Free with Termify
Master Valuation Adjustment and 4,071+ professional terms with native pronunciation, IPA transcriptions and career quizzes. 100% free, forever.
Download Free for iOSFrequently Asked Questions
What is Valuation Adjustment?
An official modification to the customs value of goods declared for import, reflecting post-transaction elements (such as assists, royalties, or rebates), calculated per WTO Customs Valuation Agreement and applied to determine applicable duties and taxes on transport documents.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches Valuation Adjustment and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
Last updated: