# Customs value

> <div id="bkmrk-in-case-of-non-union"><div><div><div id="bkmrk-when-a-nomination-is">When a parcel is registered in the terminal's ERP system, the value of that parcel is recorded by CS in line with the current market value. As such, all parcels registered in the ERP system are accompanied by a value.</div></div><div id="bkmrk-">  
> </div><div id="bkmrk-the-value-becomes-re">The value becomes relevant for customs purposes when an import declaration is submitted. <span style="background-color: unset; font-size: 1em; text-align: inherit; letter-spacing: 0.0178571em;">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. </span><span style="background-color: unset; font-size: 1em; text-align: inherit; letter-spacing: 0.0178571em;">In such cases, VTTI has agreed with the customs authorities to use the market value registered for the parcel as the customs value.</span></div><div id="bkmrk--1">  
> </div><div id="bkmrk-if-the-import-duty-r">If the import duty rate exceeds 0%, no preferential treatment applies or customs duties due are calculated on an ad valorem basis, the customs value will be determined in accordance with the general customs valuation framework of the UCC. This means that the customs value will in principle be determined in line with the transaction value method.</div></div><div>  
> <p class="callout info">More practical details on customs valuation are included in VTTI's "Customs valuation procedure", which can be found [here](https://www.bzctrl.com/app/#/handbookr/book/Customs%20valuation%20procedure?id=158&isList=false "https://www.bzctrl.com/app/#/handbookr/book/Customs%20valuation%20procedure?id=158&isList=false").</p>
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