ECJ 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)
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.
Citations:
C-21/91, [1992] EUECJ C-21/91, [1992] ECR I-3647
Links:
Statutes:
European, Customs and Excise
Updated: 01 June 2022; Ref: scu.160637
