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TREATMENT OF INTEREST CHARGES IN THE CUSTOMS VALUE OF IMPORTED GOODS.
During its Ninth Meeting held on 26 April 1984, the Committee on Customs Valuation adopted the following decision:
The Parties to the Agreement on Implementation of Article VII of the GATT agree as follows:
Charges for interest under a financing agreement entered into by the buyer and relating to the purchase of imported goods shall not be regarded as part of the Customs Value provided that :
( a) the charges are distinguished from the price actually paid or payable for the goods;
( b) the financing arrangement was made in writing;
( c ) where required, the buyer can demonstrate that :
This Decision shall apply regardless of whether the finance is provided by the seller,
a bank or another natural or legal person. It shall also apply, if appropriate, where goods are valued under a method other than the transaction value.
Each party shall notify the Committee of the date from which it will apply the Decision.