Value of goods on which duty is payable

Where duty is imposed on any goods with reference to the value of such goods that value shall be– (a) in the case of goods imported into the country the aggregate ofCAP. 48. (i) the value of the goods as determined by the application of the provisions of sections 5 and 6 of the Customs and Excise Duties Act thereto; and (ii) the amount of any Customs duty and entry tax payable pursuant to the provisions of the Customs and Excise Act in respect of such goods. CAP. 48. (b) in the case of goods manufactured in the Country, the aggregate of 48 Customs and Excise Duties (i) the price which, in the opinion of the Comptroller, would be realised by a person selling the goods in the open market at the time when the duty becomes due and payable thereon under the provisions of these Regulations, provided that it shall be assumed for the purposes of this sub-paragraph that the circumstances specified in the Schedule hereto apply to such a sale in so far as they are relevant thereto; and (ii) the amount of any excise duty payable pursuant to the provisions of the Customs and Excise Duties Act in respect of such goods.