Customs Valuation (price) for imported goods is based on the agreed WTO Valuation Code. The valuation is made in accordance with the following methods:
Method 1: Transaction Value
Method 2: Similar Goods
Method 3: Identical Goods
Method 4: Deductive Value
Method 5: Computed Value
Method 6: Flexible and Reasonable Method
Customs used rule or method hierarchically and not otherwise, for example, if Method 1 failed to obtain the actual value (price) then Method 2 will be used and so forth.