Singapore legislation
Regulation 5
of Customs (Valuation of Locally-Manufactured Goods for Excise Duty) Regulations 2022
Regulation 5
Transaction value of identical goods as value
Subregulation 1
Subject to paragraph (5), where the customs value of locally‑manufactured goods cannot, in the opinion of the proper officer of customs, be determined under regulation 3, the customs value of the goods is the transaction value of identical goods that were manufactured in Singapore and sold by the manufacturer in Singapore at the same or substantially the same time as the goods being valued and that were sold under the following conditions:
to a buyer at the same or substantially the same commercial level as the buyer of the goods being valued;
in the same or substantially the same quantities as the goods being valued.
Subregulation 2
Subject to paragraphs (3), (4) and (5), where the customs value of locally‑manufactured goods cannot be determined under paragraph (1) because identical goods were not sold under the conditions described in paragraph (1)(a) and (b), the customs value of the goods is the transaction value of identical goods that were manufactured in Singapore and sold by the manufacturer in Singapore at the same or substantially the same time as the goods being valued and that were sold under any of the following conditions:
to a buyer at the same or substantially the same commercial level as the buyer of the goods being valued but in a quantity different from the quantity in which those goods were sold;
to a buyer at a commercial level different from that of the buyer of the goods being valued but in the same or substantially the same quantity as the quantity in which those goods were sold;
to a buyer at a commercial level different from that of the buyer of the goods being valued and in a quantity different from the quantity in which those goods were sold.
Subregulation 3
For the purposes of determining the customs value of locally‑manufactured goods under paragraph (2), the transaction value of identical goods must be adjusted by adding or deducting, as the case may be, amounts to account for —
in the case of identical goods sold under the condition mentioned in paragraph (2)(a), the difference between the quantity in which the identical goods were sold and the quantity in which the goods being valued were sold;
in the case of identical goods sold under the condition mentioned in paragraph (2)(b), the difference between the commercial level of the buyer of the identical goods and the commercial level of the buyer of the goods being valued; or
in the case of identical goods sold under the condition mentioned in paragraph (2)(c), the difference mentioned in sub‑paragraph (a) and the difference mentioned in sub‑paragraph (b).
Subregulation 4
If any amount mentioned in paragraph (3) cannot be determined on the basis of sufficient information, the customs value of the goods being valued must not be determined on the basis of the transaction value of those identical goods under this regulation.
Subregulation 5
Where —
paragraph (1) applies and there are 2 or more transaction values of identical goods that meet all the requirements set out in that paragraph; or
paragraph (2) applies and there are 2 or more transaction values of identical goods that meet all the requirements set out in that paragraph,the customs value of the goods being valued must be determined on the basis of the lowest of the transaction values.