Rss Feed Facebook button
Get Adobe Flash player

Resolution N° 4812 dated July 9th, 2012, from the Customs Service.

In the Official Gazette dated August 6th, 2012, Resolution N° 4812 from the Custom Service has been published. This resolution modifies the Compendium of Customs Regulations (Compendio de Normas Aduaneras) in respect of the valuation of goods under lease or leasing, new or used, which come into the country under the Customs regime of temporal admission.

The most important change is that from this Resolution the Customs value of goods under lease or leasing that enter into the country under temporal admission will have to be determined based on the amount of all the rents established in the corresponding contract, for all of its duration. This change produces two main doubts:

Firstly, whether or not this change has to be interpreted in the sense that from now on all the goods that come into the country under lease or leasing contracts, without exception, must be submitted to temporal admission. Secondly, assuming that in the case of goods under lease or leasing (especially for a duration of more than two years) the normal import regime will have to be also guided by the new regulations on how the goods need to be valued.

With regard to the first doubt, our opinion is that this change may not be interpreted in the sense that from now on all goods under a lease or leasing contract would need to be subject to temporal admission. This is especially true in the case of contracts for a duration of more than two years (which is the maximum duration of the temporal admission).

With regard to the second doubt, we believe that since the resolution in analysis is applicable to the goods under temporal admission, one may not extend this new system to other customs destinations, especially; it should not be applied to the normal importation of goods under a lease or leasing contract.

In any event, the lack of clarity of Resolution N° 4812 is regrettable.

Comments are closed.