Ireland and Northern Ireland: Customs valuation is used to determine the economic worth of goods being declared for customs purposes. The authorities wish to ensure that goods are not being undervalued for customs purposes, as this will result in diminished revenue. This risk is seen as particularly arising where buyer and seller are somehow related and market value is not applied.
The European Commission have written a guide to customs valuation methods.
GOV.UK have detailed guidance on working out the customs value of your imported goods.
Irish Revenue have provided information about customs valuation.
Read our comprehensive guide to trade routes and customs paperwork article with lots more information, important actions businesses need to take and links to further support.