Regulation 9 ValuationI1

United Kingdom

(1)

“Value”, in relation to a material, means—

(a)

the customs value, as determined in accordance with Article VII of GATT, at the time of importation of the material, or

(b)

if that customs value is not known and cannot be ascertained, the first price proven, to the satisfaction of an HMRC officer, to have been paid for the material in the United Kingdom or in the qualifying DCTS country concerned.

(2)

When calculating the value of non-originating material in relation to a good obtained in an LDC, the costs of freight, insurance, packing, and all other costs incurred in transporting the material to the location of the producer of the good may be deducted.

(3)

In paragraph (1)(a), “GATT” means the General Agreement on Tariffs and Trade 1994 (GATT) (being part of Annex 1A to the Agreement establishing the World Trade Organization (WTO) signed in Marrakesh on 15th April 1994^f1).

Regulation 9 ValuationI1

Annotations

Commencement

Footnotes