Compendium of customs valuation 2021

A new edition of the European Commission's Compendium of customs valuation has been published. The main purpose of the Compendium is to provide support to the customs administrations of the Member States to ensure the uniform and correct application of the principles and general provisions of customs valuation. On the other hand, business obligation is a correct declaration of the customs value of goods, so this document also benefits the business community. Let's take a brief look at how the need for such a document has evolved and what is presented in the new edition of it.