Transaction value: further excluded items - royaltiesU.K.
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.