Plain meaning
The primary customs valuation method based on the price paid or payable for goods sold for export to Canada, with required adjustments.
Also called
price paid or payable
transaction value
Key points
- The method usually starts with the sale price for goods sold for export to Canada.
- Adjustments may be needed for assists, royalties, commissions, proceeds, packing, transport, and other amounts.
- The method may not apply if there is no sale for export to Canada or if related-party pricing is not acceptable.
- If it cannot be used, alternative customs valuation methods may apply in order.
Why it comes up
Transaction value affects duties, GST/HST on importation, customs audits, and related-party import pricing.