How to Accurately Calculate Export Value When Using a Customs Broker?
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Our company has recently started using a customs broker to handle export declaration business. We used to handle declarations ourselves and are not entirely clear on how the export value is calculated when using a customs broker. We would like to ask how the export value is calculated for customs brokerage? Is it based on the amount on the customs declaration form? Or are there other calculation methods? Will it involve factors such as the fees charged by the customs broker? We hope to receive a professional answer, thank you!
Trade Expert Insights Answers
Richard WuYears of service：8Customer Rating：5.0
Global Trade Operations ExpertStart a Chat
The export value for customs brokerage is typically based on the "total price" amount on the customs declaration form. This amount reflects the actual value of the goods exported. It generally does not involve the fees charged by the customs broker, as brokerage fees are costs incurred by the company for customs declaration services and are unrelated to the export value of the goods themselves.
When calculating the export value, pay attention to the price terms on the customs declaration form. For example, with common FOB (Free On Board), the export value is directly the total price on the declaration form. If it's CIF (Cost, Insurance, and Freight), you need to deduct shipping and insurance costs to calculate the export value because the CIF price includes these additional expenses, and the export value that truly reflects the value of the goods should exclude them. Additionally, for some special trade methods, such as processing trade, it may be necessary to accurately calculate the export value based on specific trade policies and reconciliation requirements. In summary, by referring to the customs declaration form and considering the trade methods and price terms, the export value for customs brokerage can be calculated relatively accurately.
Michael ZhangYears of service：10Customer Rating：5.0
Customs Clearance SpecialistStart a Chat
Generally speaking, as long as the customs declaration form is filled out correctly, the export value is calculated based on the amount shown on the form. If there are any revisions, the final confirmed amount on the customs declaration form will prevail. It has no relation to customs brokerage fees; brokerage fees are remuneration for services and do not affect the calculation of export value.
Daniel KimYears of service：4Customer Rating：5.0
Commodity Inspection and Quarantine ConsultantStart a Chat
Calculating the export value for customs brokerage is not difficult. First, look at the trade term. Under terms like EXW, the export value is the customs declaration amount corresponding to the ex-factory price of the goods. Primarily, focus on the portion of the customs declaration form pertaining to the value of the goods, and do not include other miscellaneous fees.
Robert TanYears of service：5Customer Rating：5.0
International Market Development AdvisorStart a Chat
In practice, if the amounts on the customs declaration form and the commercial invoice are consistent, the export value is basically determined by the amount on the customs declaration form. If there are discrepancies between the two, the reasons need to be verified, and the export value should be calculated based on the accurate value of the goods. The fees charged by the customs broker do not affect this calculation.
Olivia LiuYears of service：6Customer Rating：5.0
Foreign Exchange Risk ManagerStart a Chat
Actually, looking at the transaction method on the customs declaration form, if the transaction method is FCA, the export value is basically the total price on the customs declaration form. As long as the transaction is genuine and proceeds according to the normal process, the amount on the customs declaration form is an important basis for calculating the export value.
Anthony LuoYears of service：10Customer Rating：5.0
Trade Compliance ExpertStart a Chat
If tax rebates are involved, the calculation of export value for customs brokerage should be done carefully. Usually, it is still based on the amount on the customs declaration form, but it is necessary to ensure that the information on the customs declaration form is consistent with other export documents. This way, the calculated export value for purposes like tax rebates will be accurate.
Emma ZhaoYears of service：3Customer Rating：5.0
Export Documentation SpecialistStart a Chat
When goods have multiple specifications or different prices, calculating the export value for customs brokerage requires calculating the amount for each specification of goods separately and then summing them up to get the total export value. Similarly, fees charged by the customs broker are not considered.
Kevin HuangYears of service：3Customer Rating：5.0
E-Commerce Export AdvisorStart a Chat
Regarding the export value for customs brokerage, attention should also be paid to exchange rates. If the customs declaration form is denominated in foreign currency, it should be converted into RMB according to the prescribed exchange rate to calculate the export value. The amount on the customs declaration form remains the core basis.
Thomas LiYears of service：7Customer Rating：5.0
Import Licensing AdvisorStart a Chat
When calculating the export value for customs brokerage, if the goods have discounts, they should be calculated based on the amount after deducting the discounts. The customs declaration form generally reflects the actual transaction amount, which can be used as the basis for calculating the export value.
Sophia WangYears of service：6Customer Rating：5.0
International Logistics CoordinatorStart a Chat
Sometimes there are sample exports requiring customs declaration. The export value calculation for customs brokerage should be based on the actual value of the samples. If the customs declaration form reflects this, it should be used for calculation, similar to the calculation of export value for regular goods.