You supply the valuation, BUT if the country you are visiting values the bike at a higher value then you pay the difference between your valuation and customs valuation in the country that made the call on the carnet.
Usual advice is to have a look at market values and customs duties and other taxes in the countries that you will be visiting. Then base your value on that. Some countries have very high duties (I think Egypt is 150% - stand to be corrected). Australia has 10% duty but adds another 10% for GST on the value plus the shipping costs.
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