C1PART 12Valuation of chargeable goods

Annotations:
Modifications etc. (not altering text)

C1CHAPTER 4Transaction value: specified matters – excluded elements

C1Transaction value: further excluded items - royaltiesI1C1116

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.