Singapore legislation
Regulation 8
of Customs (Valuation of Locally-Manufactured Goods for Excise Duty) Regulations 2022
Regulation 8
Computed value as value
Subregulation 1
Where the customs value of locally‑manufactured goods cannot, in the opinion of the proper officer of customs, be determined under regulation 7, the customs value of the goods is the computed value in respect of those goods.
Subregulation 2
The computed value of any goods being valued is the aggregate of the following amounts:
the costs, charges and expenses incurred in respect of, or the value of —
materials employed in producing the goods being valued; and
the production or other processing of the goods being valued,determined in the manner specified in paragraph (3), including, without limiting the generality of sub‑paragraphs (i) and (ii) —
the costs, charges and expenses mentioned in regulation 4(2)(b);
the value of any of the goods and services mentioned in regulation 4(2)(c), determined and apportioned to the goods being valued as mentioned in that regulation, whether or not such goods and services have been supplied free of charge or at a reduced cost; and
the costs, charges and expenses incurred by the producer in respect of engineering, development work, art work, design work, plans or sketches undertaken in Singapore that were supplied, directly or indirectly, by the buyer of the goods being valued for use in connection with the production and sale of those goods to the extent that such elements are charged to the producer of the goods, apportioned to the goods being valued as mentioned in regulation 4(2)(c);
the amount of profit and general expenses —
considered together as a whole, generally reflected in sales in Singapore of goods of the same class or kind as the goods being valued, made by the producers of the goods to buyers in Singapore who are not related to the producers at the time the goods are sold to the buyers; and
determined in accordance with paragraph (4).
Subregulation 3
The costs, charges and expenses mentioned in paragraph (2)(a) are to be determined on the basis of —
the commercial accounts of the producer of the goods being valued; or
any other sufficient information relating to the production of the goods being valued,that are supplied by or on behalf of the producer of the goods and prepared in a manner consistent with generally accepted accounting principles in Singapore.
Subregulation 4
The amount of profit and general expenses mentioned in paragraph (2)(b) is to be calculated on a percentage basis and determined on the basis of —
information that is —
prepared in a manner consistent with generally accepted accounting principles in Singapore; and
supplied by or on behalf of the producer of the goods being valued; and (b)where the information supplied by or on behalf of the producer of the goods being valued is not sufficient information — information that is supplied by an examination of sales in Singapore of the narrowest group or range of goods of the same class or kind as the goods being valued from which sufficient information can, in the opinion of the proper officer of customs, be obtained.
Subregulation 5
For the purposes of this regulation, “general expenses” means the direct and indirect costs, charges and expenses of producing and selling goods, other than the costs, charges and expenses mentioned in paragraph (2)(a).