When shipping international parcels, an important concept to understand is valuation. The declared value is a key determinant of the import process and duty assessment. Over declarations result in needless costs and under-declarations can result in significant fines and legal actions.
When shipping internationally, a common question we get is: “What value should we declare?” The declared value (along with HS classification) is the key factor in import duty assessment. Over-declaring leads to needless cost, while under-declaring risks fines, delays, or legal action.
