Regulation 2 — Customs (Valuation) Regulations

Subregulation 1

In these Regulations, unless the context otherwise requires —

Definition

“computed value” means the value determined in accordance with regulation 8;

Definition

“country of export” or “the country from which any goods are exported” means the country from which the goods are transported directly to Singapore or, as the case may be, the country from which the goods are deemed to be transported pursuant to paragraph (4)(b);

Definition

“deductive value” means the value determined in accordance with regulation 7;

Definition

“goods of the same class or kind” means imported goods that —

(a)

are within a group or range of imported goods produced by a particular industry or industry sector that includes identical goods or similar goods in relation to the goods being valued; and

(b)

for the purposes of —

(i)

regulation 7, were exported from any country; and

(ii)

regulation 8, were produced in and exported from the country in and from which the goods being valued were produced and exported;

Definition

“identical goods” means imported goods that —

(a)

are the same in all respects, including physical characteristics, quality and reputation, as the goods being valued, except for minor differences in appearance that do not affect the value of the goods;

(b)

were produced in the country in which the goods being valued were produced; and

(c)

were produced by or on behalf of the person who produced the goods being valued,but does not include imported goods where engineering, development work, art work, design work, plans or sketches undertaken in Singapore were supplied, directly or indirectly, by the buyer of those imported goods free of charge or at a reduced cost for use in connection with the production and sale for export of those imported goods;

Definition

“price paid or payable”, in relation to any goods, means the aggregate of all amounts paid or payable by the buyer to or for the benefit of the seller in respect of the goods;

Definition

“produce” includes grow, manufacture and mine;

Definition

“similar goods” means imported goods that —

(a)

closely resemble the goods being valued in respect of component materials and parts and characteristics and are functionally and commercially interchangeable with the goods being valued having regard to the quality and reputation (including any relevant trade mark) of the goods and the goods being valued;

(b)

were produced in the country in which the goods being valued were produced; and

(c)

were produced by or on behalf of the person who produced the goods being valued,but does not include imported goods where engineering, development work, art work, design work, plans or sketches undertaken in Singapore were supplied, directly or indirectly, by the buyer of those imported goods free of charge or at a reduced cost for use in connection with the production and sale for export of those imported goods;

Definition

“sufficient information”, in respect of the determination of any amount, difference or adjustment, means objective and quantifiable information that clearly establishes the accuracy of the amount, difference or adjustment;

Definition

“transaction value” means the value determined in accordance with regulations 3 and 4.

Subregulation 2

For the purposes of these Regulations, persons shall be deemed to be related only if —

(a)

they are officers or directors of one another’s businesses;

(b)

they are legally recognised partners in business;

(c)

they are employer and employee;

(d)

any person directly or indirectly owns, controls or holds 5 per cent or more of the outstanding voting stock or shares of both of them;

(e)

one of them, directly or indirectly, controls the other;

(f)

both of them are, directly or indirectly, controlled by a third person;

(g)

together they, directly or indirectly, control a third person; or

(h)

they are members of the same family.

Subregulation 3

Persons who are associated in business with one another in that one is the sole agent, sole distributor or sole concessionaire, however described, of the other shall be deemed to be related for the purposes of these Regulations if they fall within the criteria of paragraph (2).

Subregulation 4

For the purposes of these Regulations —

(a)

where there are no goods that were produced by or on behalf of the person who produced the goods being valued and that are otherwise identical goods or similar goods, goods that were produced by or on behalf of a different person and that are otherwise identical goods or similar goods shall be deemed to be identical goods or similar goods, as the case may be; and

(b)

goods exported to Singapore from any country but passing through any other country on their way to Singapore (whether transhipped in that other country or not) shall be deemed to be transported directly from the first-mentioned country.

Subregulation 5

In the interpretation of these Regulations, regard shall be had to —

(a)

the Interpretative Notes in Annex I to the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994; and

(b)

the Decision of 26th April 1984 on the Treatment of Interest Charges in the Customs Value of Imported Goods.