Goods financed by the seller have duties assessed against the interest payable only if that amount is included in the purchase price of the goods.

Question

Quizplus · Accepted Answer

Duties are usually assessed based on the value of the imported goods. If the seller has provided financing for the goods and the interest payable is included in the purchase price, then duties will be assessed on the total amount. If the interest payable is not included in the purchase price, then duties will only be assessed on the value of the goods themselves.

Goods Financed by the Seller Have Duties Assessed Against the Interest