NOTIFICATION UNDER DECISION A.4 CONCERNING THE INTERPRETATION OF THE AGREEMENT ON IMPLEMENTATION OF ARTICLE VII OF THE GENERAL AGREEMENT
ON TARIFFS AND TRADE 1994

NOTIFICATION OF THE TREATMENT OF INTEREST CHARGES

Dominican Republic

The following communication, dated 3 October 2024, is being circulated at the request of the delegation of the Dominican Republic.

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In accordance with the Decision concerning the "interpretation and administration of the Agreement" adopted by the Committee on Customs Valuation (document G/VAL/5, section A.3), the Dominican Republic hereby notifies that the provisions have been implemented since 20 January 2011 and incorporated into the "Customs Valuation Regulations Consistent with the Valuation Agreement of the GATT 1994" (Decree No. 36-11 of 20 January 2011). Chapter IV, Article 15, of these Regulations establishes the following:

ARTICLE 15. Charges for interest under a financing arrangement entered into by the buyer and relating to the purchase of the imported goods shall not be regarded as part of the customs value, provided that:

(a) The charges are distinguished from the price actually paid or payable for the goods.

(b) The financing arrangement was made in writing.

(c) Where required, the buyer is able to demonstrate that such goods are sold at the price declared as the price actually paid or payable, and that the claimed rate of interest does not exceed the level for such transactions prevailing in the country where, and at the time when, the finance was provided.

PARAGRAPH I: The foregoing shall apply regardless of whether the finance is provided by the seller or another natural or legal person. Furthermore, where appropriate, the above requirements shall apply in cases where the goods are valued under a method other than transaction value.

PARAGRAPH II: If any requirement set out in this article is not met, the amount attributed to interest shall be considered part of the transaction value.

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