Customs valuation is the procedure applied to determine the value of imported goods for the purpose of levying ad valorem customs duties.

The ACV provides for six methods of valuation to be applied in the following sequential order except for methods 4 and 5 where the law provides for reversal of the order of application on request by the importer.
The transaction value method;
The transaction value of identical goods;
The transaction value of similar goods;
Deductive value method;
Computed value method, and;
Fallback method.