Definition
The seller’s bill to the buyer, and the primary document customs uses to assess value, duty, and tax.
The commercial invoice records the transaction between seller and buyer: the goods, quantities, unit and total price, currency, Incoterm, and the parties involved. It is the backbone of the export documentation set.
Customs authorities rely on it to determine the customs value, classify the goods, and calculate duties and taxes, so accuracy and consistency with the packing list and other documents are essential to avoid delays or penalties.
Related terms
Packing List
A document itemizing the contents, weights, and dimensions of each package in a shipment.
Certificate of Origin (CoO)
A document certifying the country in which the goods were produced, used to determine duty treatment.
Customs Declaration
The formal statement to customs of a shipment’s goods, value, and origin used to assess duty and controls.
HS Code (Harmonized System Code)
A standardized numeric code that classifies a product for customs, determining its duty and controls.
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