Keywords
Summary

Keywords

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Common Customs Tariff ° Customs value ° Transaction value ° Calculation ° Interest payable under a financing arrangement ° Excluded ° Financing arrangement ° Concept ° Deferment of payment granted by the seller to the buyer ° Included

(Council Regulation No 1224/80, Arts 1, 3 and 8; Commission Regulation No 1495/80, Art. 3, as amended by Regulation No 220/85)

Summary

The expression "financing arrangement" used in Article 3(2) of Regulation No 1495/80 implementing certain provisions of Articles 1, 3 and 8 of Regulation No 1224/80 on the valuation of goods for customs purposes, as amended by Regulation No 220/85, is to be interpreted in the same manner as the same expression in Article 3(c) of the original version of Regulation No 1495/80.

The said Article 3 is to be interpreted as meaning that interest payable as a result of time allowed by the seller and accepted by the buyer for payment for imported goods is to be regarded as "interest payable under a financing arrangement relating to the purchase of the imported goods", not to be included in the customs value.