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PART XIIU.K.VALUATION OF ACQUISITIONS

Interpretation of Part XIIU.K.

96.  In this Part—

Commencement Information

I1Reg. 96 in force at 20.10.1995, see reg. 1

Valuation of acquisitionsU.K.

97.  —

(1) Subject to paragraph (2) below, the value of the relevant transaction in relation to any goods acquired in [F1Northern Ireland from a member State] where—

(a)the goods are charged in connection with their removal to [F2Northern Ireland] with a duty of excise; or

(b)on that removal are subject, in accordance with any provision for the time being having effect for transitional purposes in connection with the accession of any State to the [F3European Union], to any [F3EU] customs duty or agricultural levy of the [F4EU],

shall be taken, for the purposes of the Act, to be the sum of its value apart from paragraph 2 of Schedule 7 to the Act and the amount, so far as not already included in that value, of the excise duty, [F3EU] customs duty or, as the case may be, agricultural levy which has been or is to be paid in respect of those goods.

(2) Paragraph (1) above does not apply to a transaction in pursuance of which there is an acquisition of goods which, under subsection (4) of section 18 of the Act, is treated as taking place before the duty point within the meaning of that section.