Keywords
Summary

Keywords

COMMON CUSTOMS TARIFF - VALUE OF GOODS FOR CUSTOMS PURPOSES - TRANSACTION VALUE - DETERMINATION - GOODS DAMAGED BEFORE THEIR RELEASE FOR FREE CIRCULATION - PROPORTIONAL REDUCTION

( COUNCIL REGULATION NO 1224/80 , ART . 3 ( 1 ))

Summary

ARTICLE 3 ( 1 ) OF COUNCIL REGULATION NO 1224/80 ON THE VALUATION OF GOODS FOR CUSTOMS PURPOSES MUST BE INTERPRETED AS MEANING THAT WHERE GOODS BOUGHT FREE OF DEFECTS ARE DAMAGED BEFORE BEING RELEASED FOR FREE CIRCULATION THE PRICE ACTUALLY PAID OR PAYABLE , ON WHICH THE TRANSACTION VALUE IS BASED , MUST BE REDUCED IN PROPORTION TO THE DAMAGE SUFFERED .