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HMRC internal manual

Guidance on the Audit of Customs Values

HM Revenue & Customs
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Method 1 (transaction value): concept of sale

The WCO Technical Committee on Customs Valuation has considered the concept of the word ‘sale’ (AO 1.1).

It found that the WTO Agreement contains no definition of ‘sale’.

It merely stipulates a specific commercial operation satisfying certain requirements and conditions.