How to clear customs using the transaction price method and what this method of customs clearance entails. In EAEU member states, including Armenia, customs clearance is carried out by 6 methods.
They are:
1. determination of shipping cost according to transaction price method,
2. determination of shipping cost according to the transaction price method of the same products,
3. determination of shipping cost according to the transaction price method of similar products,
4. A method of determining the customs value of goods transported by RA customs on the basis of the unit sale price of the goods in the domestic market of the Republic of Armenia,
5. method of determining the shipping value according to the calculation value,
6. reserve method of determining the shipping value.
These methods are applied by the customs authorities in order. In other words, if the documents do not meet or correspond to method 1, the second customs clearance method is used. If the 2nd method is not possible, then the 3rd and so on. Thus, if it is not possible to apply methods 1 to 5 to determine the customs value of imported goods, then the customs value of goods is determined according to method 6.
The best option for importers to clear goods is the first method, the transaction price method.
When clearing cargo using this method, the customs authorities take as a basis the price on the invoices presented for the imported goods. In other words, the customs authorities believe the price that is presented by the importer on the invoice. To carry out customs clearance using the transaction price method, it is necessary to submit the following documents to the customs authorities.
import invoice
contract with the supplier
a document certifying the payment for the cargo, and if the payment is delayed, then there should be a clause in the contract that shows that the payment is delayed
contract with the freight forwarder
shipping invoice
export declaration of the exporting country
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