§ (1) For the purpose of the duties charged by this Act on wines and cigars by reference to the value thereof, the value of the goods shall be taken to be the price which a merchant would give for the goods at the time of the payment of the duty if the goods were 1312 bought by him in bond in the United Kingdom, freight, insurance, warehousing, and all other charges paid, and duty shall be paid on that value as fixed by the Commissioners of Customs and Excise.
§ (2) The provisions of Sub-sections (3) and (4) of Section Twelve of the Finance (No. 2) Act, 1915 (which relate to the determination of disputes as to the proper rate of duty payable under that Section), shall apply to disputes arising as to the proper rate of duty payable under this Act by reference to the value of any goods.1313
I beg to move, in Sub-section (1), to leave out the words "a merchant would give for the goods at the time of the payment of the duty if the goods were bought by him in bond in the United Kingdom, freight, insurance, warehousing and all other charges paid", and to insert instead thereof the words "an importer would give for the goods if the goods were delivered to him, freight and insurance paid, in bond at the port of importation".
§ This is in accordance with an undertaking which I gave a short time ago as to the ad valorem duty levied on cigars and sparkling wine when the goods have been stored in bond for some time.
§ Amendment agreed to.
§ Clause, as amended, ordered to stand part of the Bill.