Value of imported goods

For the purposes of this Act, the value of goods imported into Belize is the total of the following amountsSchedule III. CAP. 48. (a) the value of the goods determined in accordance with Schedule III to the Customs and Excise Duties Act (whether or not duty is payable under that Act); and (b) any duties, taxes (other than GST charged under this Act), and other charges that are charged, paid, or payable upon the entry of except that where the goods are re-imported after being exported for repair, renovation or improvement and it is further shown that the goods have been subjected to a process of repair, renovation or improvement abroad and where their form or character has not been changed, the value of the goods, for the purposes of calculating tax, if any, on the entry of the goods when they are re-imported, is the amount of the increase in their value that is attributable to the process. Refund of over payments of tax