Regulation 107 InterpretationC1I1

In this Part—

• F1...

• “buying commission” means a commission paid by a buyer of goods to an agent of the buyer in respect of services provided by the agent to the buyer to enable the buyer to import chargeable goods;

• “comparable goods” has the meaning given by regulation 127(1);

• “full value” means the total amount which would be payable in an arm's length transaction for, or in connection with the importation of, goods;

• “identical goods” has the meaning given by regulation 127(1);

• “Method” means a method of valuation set out in chapter 5 of this Part; and “Method N valuation”, where N is a whole number between 1 and 6, is a Method so numbered;

• “related persons” has the meaning given by regulation 128;

• “similar goods” has the meaning given by regulation 127(1);

• “specified matters” has the meaning given by regulation 108(7) in respect of items to be included as elements of a transaction value and by regulation 108(8) in respect of items to be excluded as elements of a transaction value;

• “time the goods are imported” is to be construed in accordance with section 5 of CEMA 1979 M1.

In chapters 2 to 5 of this Part in relation to a transaction value of goods, “seller” means the person who in the transaction sells the goods for export to the United Kingdom and “buyer” means the person who in the transaction buys the goods from the seller.