Customs Value Additions (Art. 71)

Article 71 UCC specifies elements to be added to the transaction price when determining customs value. These include: commissions and brokerage fees (except buying commissions), cost of containers and packing, value of materials supplied free by the buyer (assists), royalties and licence fees, and transport and insurance to the EU customs border. Correct additions are crucial – omission may result in undervaluation and penalties.