asked the President of the Board of Trade whether he will give a table of import duties for this country now in force compared in effect and value with those originally fixed, in order to determine whether they were adequately raised to balance the effect of managd currencies, etc., in other countries?
A full list of import duties is published twice a year in the Customs and Excise Tariff. If any manufacturer feels dissatisfied with the existing rates charged under the Import Duties Act, 1932, or the Safeguarding of Industries Act, 1921, it is open to him to apply to the Import Duties Advisory Committee for increased protection.
asked the Chancellor of the Exchequer what basis of valuation is adopted in fixing the value for duty purposes on goods imported from countries which pay export subsidies and, in respect of goods invoiced in German marks, whether account is taken of the fact that these marks may be import-blocked marks, or whether, by arrangement with the German authorities, they are interchangeable substantially below the nominal rate of exchange so as to provide the exporter with an export subsidy; and whether he is satisfied that there is no loss to the revenue on this account?
asked the Chancellor of the Exchequer whether the Import Duty charged upon German motor cars imported into this country is based upon the value as set out in the invoices accompanying the vehicles, or whether the value of the vehicles in the country of origin is taken into account?
The definition of value in Section 10 of the Finance Act, 1935, is applied to all imported goods chargeable with duty ad valorem. That value is in effect the price the goods would fetch in a free market at the port of importation, which may differ materially both from the invoice price and from the value in the country of origin. The basis on which any sterling received for the goods is converted into foreign currency by the seller is not, therefore, necessarily a relevant consideration.