Calculation of the Value of a Good or Material. 1. For the purpose of this Article, the value of a material is: (a) for a material imported by the producer of the good, the value of the material; (b) for a material acquired in the territory where the good is produced, the earliest ascertainable price paid or payable for the material; or (c) for a material that is self-produced, the sum of all expenses incurred in the production of the material, including general expenses, and an amount for profit equivalent to the profit added in the normal course of trade. 2. The value of materials may be adjusted as follows: (a) for originating materials, the following expenses may be added to the value of the material if not included under paragraph 1: (i) the costs of freight, insurance, packing, and all other costs incurred in transporting the material within or between the Parties' territories to the location of the producer; (ii) duties, taxes, and customs brokerage fees on the material paid in the territory of one or both of the Parties, other than duties and taxes that are waived, refunded, refundable, or otherwise recoverable, including credit against duty or tax paid or payable; and (iii) the costs of waste and spoilage, where it can be determined, incurred from the use of the material in the production of the good, less the value of renewable scrap or by-products; or (b) for non-originating materials, where included under paragraph 1, the following expenses may be deducted from the value of the material: (i) the costs of freight, insurance, packing, and all other costs incurred in transporting the material within or between the Parties' territories to the location of the producer; (ii) duties, taxes, and customs brokerage fees on the material paid in the territory of one or both of the Parties, other than duties and taxes that are waived, refunded, refundable, or otherwise recoverable, including credit against duty or tax paid or payable; (iii) the costs of waste and spoilage, where it can be determined, incurred from the use of the material in the production of the good, less the value of renewable scrap or by-products; (iv) the cost of processing incurred in the territory of one or both of the Parties in the production of the non-originating material; and (v) the cost of originating materials used in the production of the non-originating material in the territory of one or both of the Parties.
Appears in 3 contracts
Samples: Free Trade Agreement, Free Trade Agreement, Free Trade Agreement
Calculation of the Value of a Good or Material. 1. For the purpose of this Article, the value of a material is:
(a) for a material imported by the producer of the good, the value of the material;
(b) for a material acquired in the territory where the good is produced, the earliest ascertainable price paid or payable for the material; or
(c) for a material that is self-produced, the sum of all expenses incurred in the production of the material, including general expenses, and an amount for profit equivalent to the profit added in the normal course of trade.
2. The value of materials may be adjusted as follows:
(a) for originating materials, the following expenses may be added to the value of the material if not included under paragraph 1:
(i) the costs of freight, insurance, packing, and all other costs incurred in transporting the material within or between the Parties' Parties‟ territories to the location of the producer;
(ii) duties, taxes, and customs brokerage fees on the material paid in the territory of one or both of the Parties, other than duties and taxes that are waived, refunded, refundable, or otherwise recoverable, including credit against duty or tax paid or payable; and
(iii) the costs of waste and spoilage, where it can be determined, incurred from the use of the material in the production of the good, less the value of renewable scrap or by-products; or
(b) for non-originating materials, where included under paragraph 1, the following expenses may be deducted from the value of the material:
(i) the costs of freight, insurance, packing, and all other costs incurred in transporting the material within or between the Parties' Parties‟ territories to the location of the producer;
(ii) duties, taxes, and customs brokerage fees on the material paid in the territory of one or both of the Parties, other than duties and taxes that are waived, refunded, refundable, or otherwise recoverable, including credit against duty or tax paid or payable;
(iii) the costs of waste and spoilage, where it can be determined, incurred from the use of the material in the production of the good, less the value of renewable scrap or by-products;
(iv) the cost of processing incurred in the territory of one or both of the Parties in the production of the non-originating material; and
(v) the cost of originating materials used in the production of the non-originating material in the territory of one or both of the Parties.
Appears in 2 contracts
Samples: Free Trade Agreement, Free Trade Agreement
Calculation of the Value of a Good or Material. 1. For the purpose of this Article, the value of a material is:
(a) for a material imported by the producer of the good, the value of the material;
(b) for a material acquired in the territory where the good is produced, the earliest ascertainable price paid or payable for the material; or
(c) for a material that is self-produced, the sum of all expenses incurred in the production of the material, including general expenses, and an amount for profit equivalent to the profit added in the normal course of trade.
2. The value of materials may be adjusted as follows:
(a) for originating materials, the following expenses may be added to the value of the material if not included under paragraph 1:
(i) the costs of freight, insurance, packing, and all other costs incurred in transporting the material within or between the Parties' ’ territories to the location of the producer;
(ii) duties, taxes, and customs brokerage fees on the material paid in the territory of one or both of the Parties, other than duties and taxes that are waived, refunded, refundable, or otherwise recoverable, including credit against duty or tax paid or payable; and
(iii) the costs of waste and spoilage, where it can be determined, incurred from the use of the material in the production of the good, less the value of renewable scrap or by-products; or
(b) for non-originating materials, where included under paragraph 1, the following expenses may be deducted from the value of the material:
(i) the costs of freight, insurance, packing, and all other costs incurred in transporting the material within or between the Parties' ’ territories to the location of the producer;
(ii) duties, taxes, and customs brokerage fees on the material paid in the territory of one or both of the Parties, other than duties and taxes that are waived, refunded, refundable, or otherwise recoverable, including credit against duty or tax paid or payable;
(iii) the costs of waste and spoilage, where it can be determined, incurred from the use of the material in the production of the good, less the value of renewable scrap or by-products;
(iv) the cost of processing incurred in the territory of one or both of the Parties in the production of the non-originating material; and
(v) the cost of originating materials used in the production of the non-originating material in the territory of one or both of the Parties.
Appears in 2 contracts
Samples: Free Trade Agreement, Free Trade Agreement