Value Method 1 - What constitutes "interest charges" in terms of Section 67(2)(b)(vi) of the Act?

Charges for interest under a financing arrangement entered into by the importer for the purchase of imported goods may be excluded from the Customs value on condition that:
The charge are distinguished from the price actually paid or payable for the goods;
The financing arrangement has been made in writing;

Where required it can be demonstrated that:

Such goods are actually sold at the price declared as the price actually paid or payable, that is, without the interest charge, and
The claimed rate of interest does not exceed the level for such transactions prevailing in the country where, and at the time when, the finance was provided.

These provisions apply to Method 1 to 6.

Last Updated: 01/02/2013 2:49 PM     print this page
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