import from parent company

THERE IS THE RULE ABOUT THIS MATTER:-

IMPORTERS WHO ARE RELATED TO THE SUPPLIER IN TERMS OF RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 ARE REQUIRED TO REGISTER WITH SVB.  RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 IS AS FOLLOWS:-

RULE 2(2): FOR THE PURPOSE OF THESE RULES, PERSONS SHALL BE DEEMED TO BE "RELATED" ONLY IF:-

I)

THEY ARE OFFICERS OR DIRECTORS OF ONE ANOTHER'S BUSINESSES.

II)

THEY ARE LEGALLY RECOGNISED PARTNERS IN BUSINESS;

III)

THEY ARE EMPLOYER AND EMPLOYEE;

IV)

ANY PERSON DIRECTLY OR INDIRECTLY OWNS, CONTROLS OR HOLDS 5 PER CENT OR MORE OF THE OUTSTANDING VOTING STOCK OR SHARES 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;

VIII)

THEY ARE MEMBERS OF THE SAME FAMILY.

THERE IS THE RULE ABOUT THIS MATTER:-

IMPORTERS WHO ARE RELATED TO THE SUPPLIER IN TERMS OF RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 ARE REQUIRED TO REGISTER WITH SVB.  RULE 2(2) OF THE CUSTOMS VALUATION RULES, 1988 IS AS FOLLOWS:-

RULE 2(2): FOR THE PURPOSE OF THESE RULES, PERSONS SHALL BE DEEMED TO BE "RELATED" ONLY IF:-

I)

THEY ARE OFFICERS OR DIRECTORS OF ONE ANOTHER'S BUSINESSES.

II)

THEY ARE LEGALLY RECOGNISED PARTNERS IN BUSINESS;

III)

THEY ARE EMPLOYER AND EMPLOYEE;

IV)

ANY PERSON DIRECTLY OR INDIRECTLY OWNS, CONTROLS OR HOLDS 5 PER CENT OR MORE OF THE OUTSTANDING VOTING STOCK OR SHARES 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;

VIII)

THEY ARE MEMBERS OF THE SAME FAMILY.