The 1% insurance Charge was passed under Legal Notice 76 of 4th Nov 2015 and domesticated in the East African Customs Management Act ,2004 (Revised Edition 2019) Sect 122, 9 (2) C under Adjustments to Value.
The legal basis for determination of the values of used vehicles and other Used articles using fall back method in the EAC is the EAC Secretariat Administrative Ruling on Valuation of used goods of 13th December 2013 as amended and Sec 122(5) of EACCMA 2004 as amended then EAC Regulations 2009.
The 1% insurance Charge was passed under Legal Notice 76 of 4th Nov 2015 and domesticated in the East African Customs Management Act ,2004 (Revised Edition 2019) Sect 122, 9 (2) C under Adjustments to Value.
The legal basis for determination of the values of used vehicles and other Used articles using fall back method in the EAC is the EAC Secretariat Administrative Ruling on Valuation of used goods of 13th December 2013 as amended and Sec 122(5) of EACCMA 2004 as amended then EAC Regulations 2009.
Am impressed.
This first method is the same as the sales comparison method of valuation