What is Customs value?

In general, Customs Value is the value of goods to levy ad valorem duties of Customs. Ad valorem duties are duties that are calculated as a percentage of the value of the goods; for example, import duty is 25% of Customs value whereas Specific duties are duties, taxes, or fees levied based on specific measures of goods such as number, weight, volume, area, capacity, etc. Here, a specific sum is imposed on each article regardless of its value, e.g. UGX1,000 per liter of fuel as Tax.