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Customs value

Where the applicable import duty rate is 0%, the goods qualify for preferential treatment upon import, or where a specific duty applies (i.e., duties are not calculated over the value but over another factor such as weight), the customs value declared serves a purely statistical purpose and has no financial impact. In such cases, VTTI has agreed with the customs authorities to apply the “reasonable means” method as an alternative method of customs valuation, in accordance with Article 74(3) of the UCC. More specifically, VTTI determines the customs value on the basis of the current market value of the relevant product.

If the import duty rate exceeds 0%, no preferential treatment applies and customs duties due are calculated on an ad valorem basis, the customs value will in principle be determined in line with the transaction value method, in accordance with article 70 of the UCC.

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.


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