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The Customs (Import Duty) (EU Exit) Regulations 2018
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- UK Statutory Instruments
- 2018 No. 1248
- PART 12
- CHAPTER 4
- Regulation 116
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The Customs (Import Duty) (EU Exit) Regulations 2018, Section 116 is up to date with all changes known to be in force on or before 24 January 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Regulation 116:
- reg. 43(3A) inserted by S.I. 2019/326 reg. 11(4) (This amendment comes into force on such day as the Treasury may by regulations under 2018 c. 22, s. 52 appoint)
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Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 43(3A) inserted by S.I. 2019/326 reg. 11(4) (This amendment comes into force on such day as the Treasury may by regulations under 2018 c. 22, s. 52 appoint)
Transaction value: further excluded items - royaltiesU.K.
This section has no associated Explanatory Memorandum
116.—(1) The items referred to in regulation 108(8) as specified matters to be excluded as elements from a transaction value further include a royalty or licence fee agreed to be paid by the buyer to the seller where—
(a)the royalty or licence fee is payable when the buyer sells the goods; and
(b)the agreement to pay the royalty or licence fee is a separate agreement to that entered into between the buyer and seller for the import of the goods into the United Kingdom.
(2) The value of the royalty or licence fee is, if it can be readily determined, the amount agreed to be paid.
Modifications etc. (not altering text)
C1Pt. 12 applied (with modifications) (31.12.2020) by The Customs (Northern Ireland) (EU Exit) Regulations 2020 (S.I. 2020/1605), regs. 1(1), 32; S.I. 2020/1643, reg. 2, Sch.
Commencement Information
I1Reg. 116 in force at 31.12.2020 by S.I. 2020/1643, reg. 2, Sch.
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