Which customs valuation method is applicable

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Reference no: EM133920738

Problem

FineCutlery S.L also started assembling the spoon in Spain. The stainless-steel components for this assembling operation are manufactured in Germany (EU), while the wooden handles are sourced from a supplier in South Korea (non-EU). FineCutlery S.L imports the wooden handles from South-Korea into Spain separately before assembly. FineCutlery BV purchases the items at a commercial price. The price for the steel component sourced from Germany in free circulation is 6 EURO. The wooden handles from the South Korean producer have a price of 3 EURO. Next to the price paid, it also incurs freight costs for the wooden handles. This is 2 EURO for the freight outside the EU and 1 EURO for the freight inside the EU. Get the instant assignment help. Which customs valuation method is applicable? What is the customs value upon import?

Reference no: EM133920738

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