Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.
Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William
Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com
There are six methods for calculating the value of imported goods to assess the amount of customs duty and import VAT you have to pay. The same value is also used for trade statistics.
All six methods are outlined below and should be tried in order. If Method 1 doesn't apply to you, try Method 2. If that doesn't apply, try 3 and so on. However, Method 5 can be tried before 4.
The six methods of calculating import values:
<img src=http://www.bearing.com.cn/direc/myimg/201111212.jpg>
This includes details of the evidence HMRC needs to support each method.
The two schemes below apply specifically to fruit and vegetables. However, only one of the two may be used and this will depend on a number of factors including the type of produce, the method of import, and the time of the year.
Simplified procedure values (SPVs)
SPVs are customs values based on prices obtained daily from designated marketing centres within the EU. The average prices are published fortnightly and can only be used for whole fruit and vegetable produce, of a single kind, imported on a consignment basis. If the imported goods have been the subject of a sale between a buyer and seller, and thus have a transaction value, the SPV system cannot be used to determine a customs value. You must use Method 1 and the actual transaction value for that particular importation.
As an alternative to using the SPV system, you can use Method 4b for goods imported on consignment.
SPVs apply to whole fruit and vegetables, not produce that has been cut and diced.
Standard import values (SIVs)
SIVs is an entry price system that can also apply to named fruit and vegetables during defined periods of application.
Updated daily, SIVs set a standard price per 100 kilograms net.
( linda )21 Nov,2011
