V17.162 Transaction value
Brexit note: This paragraph is under review and is subject to further updates. The information provided in this section is presented as it stood prior to the UK leaving the EU unless otherwise indicated. Updates are dependent on any legislation that is introduced by the UK Government.
The customs value of imported goods is, as a general rule, taken to be the 'transaction value', that is the price actually paid or payable for the goods when sold for export to the customs territory of the UK1, adjusted, where necessary, in accordance with rules laid down by UK customs law2.
The application of this value is subject to the following conditions:
• there are no restrictions as to the disposal or use of the goods by the buyer, other than restrictions which:
– are imposed or required by a law or by the public authorities in the UK, or
– limit the geographical area in which the goods may be resold, or
– do not substantially affect the value of the goods3
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