Customs value
In case of non-Union goods and exports, VTTI’s customers are required to provide a customs value. It is industry practice for mineral oils that no goods from outside the EU that attract import duties are destined for the EU market. Therefore, typically no imports take place that result in the payment of import duties.
It has been agreed with the Dutch Customs authorities that the goods for which no customs duties are due (0%), the customs value may be based on the Platts / PJK price. When customs duties are owed, the customs value is not determined on the basis of the Platts price, but on the basis of the transaction value. In specific cases where there is no transaction, the customs value will be determined according to one of the alternative valuation methods.