You must use the following formula to work out the amount of duty to be claimed:
For example, a trader might appeal if they feel the amount of duty charged has been incorrectly calculated.
The amount of duty you must pay depends on the customs value of your goods.
To find the amount of duty included in the invoice price, use the formula:
The amount of duty you must pay will then be calculated.
Penalties can be as much as eight times the amount of duty that should have been paid, and the merchandise is sometimes confiscated.
In these circumstances you may be required to repay the amount of duty and any other customs charges relieved under it.
You are responsible for declaring the correct amount of duty from the effective date of change.
You work out the amount of duty due in each accounting period by:
As the goods have not been sold at the time of importation, the amount of duty you must pay cannot be established.