PART XIIVALUATION OF ACQUISITIONS

Interpretation of Part XIII196

In this Part—

  • “relevant transaction”, in relation to any acquisition of goods from another member State, and “relevant time” in relation to any such acquisition, have the meanings given in F2paragraph 13 of Schedule 9ZA to the Act.

Valuation of acquisitionsI297

—

1

Subject to paragraph (2) below, the value of the relevant transaction in relation to any goods acquired in F5Northern Ireland from a member State where—

a

the goods are charged in connection with their removal to F3Northern 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 F6European Union, to any F6EU customs duty or agricultural levy of the F1EU,

shall be taken, for the purposes of the Act, to be the sum of its value apart from F4paragraph 10 of Schedule 9ZA to the Act and the amount, so far as not already included in that value, of the excise duty, F6EU 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.