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Application of the transaction value method

Once it has been established in the previous section of this procedure that the transaction value method applies, the next step is to determine the customs value accordingly, in accordance with the procedure described on this page.

Price paid or payable
The transaction value is the price actually paid or payable for the goods, in the transaction as selected in the previous section. 

In most cases, the price paid or payable is equal to the price mentioned on the commercial invoice provided by the customer. In theory, it might be possible that other payments are made by the buyer to the seller that qualify as "price actually paid or payable for the goods", that are not included in the price mentioned on the commercial invoice. However, this is not common in the liquid bulk sector. CS will monitor if there are signals that such separate amounts paid or payable are applicable. This can for example be the case if the price mentioned on the commercial invoice deviates more than 5% from the current market price. See a more detailed description of this standard check in the previous section of this procedure.

If any amounts are paid or payable for the goods that are not included in the price stated on the commercial invoice, CS will request supporting documentation for those payments and include them in the customs value.

Elements to be added

Certain cost elements may need to be added to the invoice price. These elements are mentioned in Article 71 UCC. VTTI has agreed with its customers that, if such elements are applicable, the customer will in principle notify CS. CS will perform a sanity check to identify any signals that such elements may have been overlooked. Specifically, CS will monitor whether there are indications that one of the following elements applies:

  • transport and insurance costs up to the point where the goods enter the EU customs territory, to the extent not already included in the invoice price (Incoterm check);
  • loading and handling charges related to the transport of the goods prior to import;
  • commissions or brokerage fees (excluding buying commissions), where relevant for the transaction;
  • royalties or licence fees that the buyer must pay as a condition of sale of the goods; and
  • any part of the proceeds from the subsequent resale or use of the goods that accrues to the seller.



Not all elements mentioned in this article are relevant for the liquid bulk industry. As such, CS will only do a sanity check to ensure 
 
 

The price actually paid or payable is the total payment made or to be made by the buyer to the seller (or to a third party for the benefit of the seller) for the imported goods, and include all payments made or to be made as a condition of sale of the imported goods. In practice, the price paid or payable is usually equal to the price mentioned on the commercial invoice. It is the responsibility of the customer to flag if 




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