Part X Duties and Drawbacks—General Provisions
General provisions relating to imported goods
125 Valuation of goods for purpose of ad valorem duties.
C11
For the purposes of any duty for the time being chargeable on any imported goods by reference to their value (whether F3anF3EU customs duty or not), the value of the goods shall, subject to subsection (2) below, be taken according to the rules applicable in the case of F3EU customs duties, and duty shall be paid on that value.
C22
In relation to an importation in the course of trade within the F2European Union the value of any imported goods for the purposes mentioned in subsection (1) above shall be determined on the basis of a delivery to the buyer at the port or place of importation into the United Kingdom.
C33
The Commissioners may make regulations for the purpose of giving effect to the foregoing provisions of this section, and in particular for requiring any importer or other person concerned with the importation of goods—
a
to furnish to the Commissioners in such form as they may require, such information as is in their opinion necessary for a proper valuation of the goods; and
b
to produce any books of account or other documents of whatever nature relating to the purchase, importation or sale of the goods by that person.
4
If any person contravenes or fails to comply with any regulation made under subsection (3) above he shall be liable on summary conviction to a penalty of F1level 3 on the standard scale.