Sourcing glossary
Customs valuation
Also known as: customs value, transaction value, WTO Valuation Agreement, 관세평가
The method customs uses to set the taxable value of imported goods, based under the WTO Valuation Agreement on the transaction value: the price actually paid or payable, plus certain adjustments.
Transaction value is adjusted for items such as selling commissions, packing costs, assists (moulds or materials you supplied to the factory) and royalties. Each country chooses whether freight and insurance to the import point are included: Korea, for example, adds them (a CIF-type value), while the US excludes costs of the international shipment. If transaction value cannot be used, customs moves through five fallback methods in a fixed order.
Under-declared invoices are a common trap with Chinese suppliers. Customs can reject a value that does not match your real payments, and mould costs paid separately usually still count. See how to calculate landed cost.
Related terms
Guides that use this term
Compliance
Importing from China to Peru: SUNAT Duties, IGV, Thresholds and the FTA
How a Peruvian importer clears goods from China: the US$200 and US$2,000 thresholds, ad valorem 0/6/11%, IGV and IPM, IGV perception, customs agents and the China FTA.
Updated 2026-10-14 · 6 min read
Compliance
Import Taxes from China to Mexico: Duty, IVA, DTA and the 33.5% Courier Rate
What a Mexican importer pays on goods from China in 2026: IGI by tariff line (5–50% since January), 16% IVA, DTA, antidumping quotas, the 33.5% courier rate, an example.
Updated 2026-10-14 · 7 min read
Shipping
Shipping Small Orders from China to Latin America: Brazil, Mexico, Peru
Courier, air or sea for a first order from China to Latin America, the customs thresholds and taxes in Brazil, Mexico and Peru, and how consolidation works.
Updated 2026-10-10 · 8 min read
Suppliers
How to Source Women's Clothing from China: Markets, MOQ, Samples and Labels
Where women's clothing is made and sold in China, stock-pack vs made-to-order MOQs, how to sample and check quality, sizing, and the labels your market requires.
Updated 2026-10-10 · 8 min read
Compliance
How to Calculate Landed Cost When Importing from China
A step-by-step landed cost formula for China imports: product cost, freight, insurance, duty, VAT, fees and delivery, with why US and EU/UK duty bases differ.
Updated 2026-09-17 · 6 min read
Trade terms
CIF vs FOB: Which Is Better When Importing from China?
CIF vs FOB under Incoterms 2020: who books freight, what CIF insurance really covers, where risk passes, and why CIF can cost more once goods reach your port.
Updated 2026-09-16 · 5 min read
Part of Tariffs & Compliance.