Article 4 Statistical value

F1The statistical value shall be based on the value of the goods at the time and place they cross the border of the F2United Kingdom where the goods are located at the time of release into the customs procedure, by entering it (imports) or by leaving it (exports).

The statistical value shall be calculated on the basis of the value of the goods referred to in paragraph 2 and, where necessary, adjusted for the costs of transport and insurance according to paragraph 4.

With respect to the valuation principles laid down in the agreement on the implementation of Article VII of the General Agreement on Tariffs and Trade (WTO customs valuation agreement), the value of the goods for imports or exports shall be:

The customs value shall be used if determined according to the F3Taxation (Cross-border Trade) Act 2018 for goods released for free circulation.

The value of goods involved in processing operations shall be determined on a gross basis as follows:

The value as referred to in paragraphs 2 and 3 shall be adjusted, where necessary, in such a way that the statistical value contains solely and entirely the costs of transport and insurance performed to deliver the goods from the place of their departure to the border of the F4United Kingdom where the goods are located at the time of release into the customs procedure (CIF-type value on imports, FOB-type value on exports).

The statistical value shall be expressed in the national currency of the F5United Kingdom F6.... Where a conversion of currency is necessary for expressing the statistical value in the national currency, F7the rate of exchange to be used shall be the one specified in the public notice under the Taxation (Cross-border Trade) Act 2018, section 18(3)