Definition: This IT concept refers to the process of evaluating the economic value of goods that are declared for importation. It involves the use of software systems and algorithms to calculate the value of imported goods based on various factors such as the cost of the goods, the cost of transportation, insurance, and any other costs associated with the importation process. Source: World Customs Organization Source reference: http://www.wcoomd.org/en/topics/valuation/instrument-and-tools/val-goods.aspx Additional information: The determination of the economic value of goods declared for importation is a critical aspect of customs operations. It ensures that the correct amount of import duties and taxes are levied on the goods. This process is guided by the principles of the World Trade Organization's Agreement on Customs Valuation, which stipulates that the valuation of goods for customs purposes should be based on the actual price of the goods. IT systems play a crucial role in this process, enabling customs authorities to accurately and efficiently calculate the value of imported goods. Example: An example of this concept in application is the use of a customs management system by a customs authority. When goods are declared for importation, the system will automatically calculate the value of the goods based on the information provided in the declaration. This includes the price of the goods, the cost of transportation and insurance, and any other costs associated with the importation process. The system will then determine the amount of import duties and taxes that should be levied on the goods. LOST view: OV-Customs Functional Architecture Principles Identifier: http://data.europa.eu/dr8/egovera/DeterminationOfTheEconomicValueOfGoodsDeclaredForImportationBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:DeterminationOfTheEconomicValueOfGoodsDeclaredForImportationBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-08-08 dct:identifier: http://data.europa.eu/dr8/egovera/DeterminationOfTheEconomicValueOfGoodsDeclaredForImportationBusinessService dct:title: Determination of the economic value of goods declared for importation Digital Public Service