Transaction value. (Amended A.5/1991.)
66. (1) Subject to this Act the transaction value of any imported goods shall be the price
actually paid or payable for the goods when sold for export to Swaziland adjusted in terms of
section 67, provided —
(a) there are no restrictions as to the disposal or use of the goods by the buyer other than restrictions which —
(i) are imposed or required by law;
(ii) limit the geographical area in which the goods may be resold; or
(iii) do not substantially effect the value of the goods;
(b) the sale or such price of the goods is not subject to any term or condition for
which a value cannot be determined;
(c) no part of the proceeds of any disposal, use or subsequent resale of the goods
by the buyer will accrue directly or indirectly to the seller, unless an appropriate
adjustment can be made in terms of section 67;
(d) subject to subsection (3), the seller and the buyer are not related within the
meaning of subsection (2)(a).
(2) (a) For the purposes of subsection (1)(d), two persons shall be deemed to be related only if —
(i) they are officers or directors of one another‟s businesses;
(ii) they are legally recognized partners in business;
(iii) the one is employed by the other;
(iv) any person directly or indirectly owns, controls or holds five per cent or more of
the equity share capital of both of them;
(v) one of them directly or indirectly controls the other;
(vi) both of them are directly or indirectly controlled by a third person;
(vii) together they directly or indirectly control a third person; or
(viii) they are members of the same family;
(b)
Persons who are associated in business with one another in that the one is
the sole agent, sole distributor or sole concessionary, however described, of the other shall
be deemed to be related only if they are so deemed in terms of paragraph (a).
(c)
Every importer of goods which are not exempted by regulation shall, when
making entry of the goods, declare, in the manner prescribed by regulation, whether or not
he is related to the supplier of the goods within the meaning of this section.