Decision No. 32 of the Council of the Eurasian Economic
Commission of April 12, 2016 on Approval of the Rules for Applying
the Procedure of Deferred Determination of Customs Value of Goods
(the Rules) enters into force on May 15, 2016. The
Customs Union Customs Code and the Agreement on Determination of
Customs Value of January 25, 2008 make it possible to defer
determination of the exact customs value in cases where documents
confirming exact information needed to calculate the customs value
are not available at the time of declaration.
Such cases may occur in the import of exchange commodities if
the price is set on a stock exchange quotation date that comes
later than the date the goods are declared; when additional
assessments the amount of which is unknown on the date of
declaration must be included in the customs value (for example, if
payments for use of intellectual property apply to the imported
goods (royalties, patents, copyright) or a portion of the income
from subsequent sale of the goods is transferred to the seller);
when the currency in which the goods are paid for differs from the
currency in which the price is set, and the exchange rate for
conversion is set on a date after the goods have been declared; and
in many other international trade transactions.
However, the decision of the Eurasian Economic Commission states
that the Rules for deferred determination of customs value may be
applied only in cases where exchange commodities are imported, if
"in accordance with the terms and conditions of the foreign
trade contract... no fixed price payable for those goods is set,
but the price of the goods depends on exchange prices (exchange
quotations, exchange indexes) and the procedure (algorithm,
formula) agreed upon by the parties to the foreign trade contract
for calculating the price of the goods at exchange prices on the
specific date set in that foreign trade contract after the
registration date of the declaration for the goods."
According to the Rules, customs value is determined in two
a preliminary customs value amount is stated at the time of
customs declaration; the amount is calculated on the basis of
exchange prices on the date is closest to the date of registration
of the declaration for the goods, based on the calculation formula
set forth in the contract;
the exact amount of the customs value that is determined based
on the price actually paid or payable for the imported goods and is
calculated on the basis of exchange prices on the date set by the
contract is declared after the goods have been released.
The time period for determining and declaring the exact amount
of the customs value is established depending on the terms of the
contract, if it contains information about the time period during
which documents supporting the exact customs value may be obtained,
and cannot be more than two months from the date of registration of
the declaration for the goods.
At the declaration stage customs charges are calculated and
payable based on the preliminary customs value amount, while at the
stage after release of the goods they are calculated and payable
based on the exact amount. If the amount of the customs charges is
higher at the end of the second stage, then additional charges are
payable. They are due on the date of declaration of the exact
customs value, and interest is not charged for deferred payment. If
the exact customs value is lower than the preliminary value, then
the declarant is entitled to a refund of excess customs duties and
taxes paid by submitting a request for a refund to customs.
The customs authorities check the customs value in the normal
way both at the stage of declaring the preliminary customs value
and after the goods are released.
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