Concept of Price Actually Paid or Payable (PAPP)
Direct and Indirect Payments
(a) Direct Payments
These are payments already made at the time of customs valuation of the imported goods. An example; a buyer in country P and a seller in country M enter into a contract to supply an industrial machine at 20 Million cu. At the time of customs valuation, the buyer had made the total payment as per contract.
(b) Indirect Payments
These are payments made by the buyer whether in whole or in part in the settlement of a debt owed by the seller. An example of an indirect payment would be where the price is reduced due to a debt owed by the seller to the buyer. In this case, the PAPP would be the sum of all payments, direct and indirect. Another form of indirect payment would be the settlement by the buyer of a debt owed by the seller to a third party.
Flow of Dividends
Activities undertaken by the buyer on his or her own account
Discounts and Credits
Concept of sale
There was a problem reporting this post.
Please confirm you want to block this member.
You will no longer be able to:
Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.