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Valuation of goods for customs purposes

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When you import goods into the Bailiwick that are liable to import duty you must work out the value of your goods and declare this value on your import declaration. This value is called the customs value. The amount of Customs Duty you must pay is often worked out as a percentage of the customs value of the goods. This type of Customs Duty is referred to as 'ad valorem duty'.

The customs value must be calculated and declared in sterling. If an amount is invoiced, or otherwise expressed, in a currency other than sterling, the amount must be converted into its sterling equivalent using the HMRC exchange rates which are revised on a monthly basis.

Methods of valuation

Chapter 4 of Guernsey's Methods of Valuation (Import Duty) Regulations, 2019 sets out the different valuation methods that must be used. There are 6 valuation methods that you can use to work out the customs value of your imported goods. You must work through the methods in numerical sequence until a Method is found by which the full value of the goods can be readily determined.

Method 1 is the general rule of valuation and is used for the majority of imports which are liable to ad valorem Customs Duty. This valuation is provided by section 4(1) of The Customs and Cross-Border Trade (General and Enabling Provisions) (Bailiwick of Guernsey) Law, 2018 and is the transaction value of the goods when sold for export to the Bailiwick. For this purpose "the transaction value" means the total amount payable for the goods, or payable in connection with the importation of the goods into the Bailiwick. This value must include the costs of transport, insurance, loading or handling connected with delivering the goods to the Bailiwick (delivery costs incurred within the Bailiwick, UK, Jersey or Isle of Man may be deducted provided they are shown separately from the price paid for the goods). Other costs, such as selling commissions, may also need to be included. Full guidance on valuing imported goods using Method 1 (transaction value) can be found here.

When you have first tried, but cannot use, Method 1 - which includes occasions where there is no sale (e.g. free consignments such as gifts, samples or promotion items) - then you must try Method 2. This Method is based on the transaction value of identical goods exported to the Bailiwick at or about the same time (within 90 days) as the goods being valued. Full guidance on valuing imported goods using Method 2 (transaction value of identical goods) can be found here.

If you're unable to work out the customs value of your imported goods using Method 1 or 2 then you must continue to work through Methods 3 to 6 until a Method is found by which the full value of the goods can be readily determined. Detailed information on all of the different valuation methods can be found here.

 

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