RESPONSIBILITIES OF IMPORTERS

• Declaring Accurate Transaction Value: The primary responsibility lies in declaring the correct transaction value of the imported goods. It refers to the actual price paid or payable for the goods when sold for export to the country of importation, with certain adjustments outlined in the legislation.

• Providing Supporting Documentation: Importers must furnish customs authorities with accurate and complete documentation to support the declared transaction value. This includes:

  • Commercial invoices detailing the product description, quantity, unit price, and total value.

  • Purchase contracts outlining the terms of sale and any additional costs.

  • Evidence of transportation and insurance costs associated with the goods.

  • Any other relevant documentation that supports the declared value.

• Maintaining Records: Importers are required to maintain proper records related to the import transaction for a period of five years as determined by legislation. This is to facilitate verification by customs authorities if needed.

• Understanding Valuation Methods: While the transaction value is the preferred method, importers should be familiar with alternative valuation methods outlined in the legislation. This knowledge can be useful in specific situations where the transaction value cannot be determined.

• Seeking Clarification: If importers are unsure about the Valuation process or have questions regarding the application valuation method for their goods, they have the right to seek clarification from customs authorities via this email address: This email address is being protected from spambots. You need JavaScript enabled to view it.

• Compliance with laws: Importers must comply with laws and regulations pertaining to customs Valuation of Vanuatu.