Commission Regulation (EEC) No 1766/85 of 27 June 1985 on the rates of exchange to be used in the determination of customs value

• Published date: 28 June 1985
• Subject Matter: Commercial policy,Harmonisation of customs law: value for customs purposes
• Official Gazette Publication: Official Journal of the European Communities, L 168, 28 June 1985,Diario Oficial de las Comunidades Europeas #Edición especial 1985#02 Unión aduanera y libre circulación de mercancías#Volumen 13,Gazzetta ufficiale delle Comunità europee, L 168, 28 giugno 1985,Journal officiel des Communautés européennes, L 168, 28 juin 1985

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Commission Regulation (EEC) No 1766/85 of 27 June 1985 on the rates of exchange to be used in the determination of customs value

Official Journal L 168 , 28/06/1985 P. 0021 - 0022
Spanish special edition: Chapter 02 Volume 13 P. 0228
Portuguese special edition Chapter 02 Volume 13 P. 0228

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COMMISSION REGULATION (EEC) No 1766/85

of 27 June 1985

on the rates of exchange to be used in the determination of customs value

THE COMMISSION OF THE EUROPEAN

COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community,

Having regard to Council Regulation (EEC) No 1224/80 of 28 May 1980 on the valuation of goods for customs purposes (1), as last amended by Regulation (EEC) No 1055/85 (2), and in particular Articles 9 and 19 thereof,

Whereas for the purposes of implementing Article 9 (1) of Regulation (EEC) No 1224/80 and with a view to uniform application of the Common Customs Tariff, it is desirable that common rules and criteria should be laid down in respect of the rates of exchange to be used in the determination of customs value;

Whereas the rate of exchange to be used should reflect as effectively as possible the current value of the currency in question at the material time for valuation for customs purposes;

Whereas in order to simplify the task of declarants and customs services it is desirable that such rates of exchange should be applicable for specified periods; whereas it is appropriate to take into consideration the procedure whereby the entry form for release for free circulation may be lodged several days before the declarant is in a position to present the goods;

Whereas recourse to a weekly rate of exchange with provision for adjustment in the event of significant exchange rate fluctuations best meets these requirements;

Whereas Article 9 (2) of Regulation (EEC) No 1224/80 lays down certain arrangements for the conversion of currencies to apply where rates of exchange are not published by the competent authorities of the Member States in accordance with paragraph 1 of that Article;

Whereas it is suitable that the competent authorities of the Member States should have discretion in the treatment of currencies for which a rate of exchange is not normally published, provided that the rates of exchange used for these currencies reflect as effectively as possible their current value in commercial transactions in...