CUSTOMS DUTIES (DUMPED AND SUBSIDISED GOODS) ACT

Section 9: Ascertainment of fair market price

1958Section 9 of 11Federal Republic of Nigeria

(1) The fair market price of any goods in a country shall for the purposes of this Act be determined as provided for in this section.
(2) Subject to subsection (3) of this section, the fair market price shall be taken to be the price at which goods of the description in question (that is to say, any identical or comparable goods) are being sold in the ordinary course of trade in the said country for consumption or use there, but subject to any necessary adjustments, whether for differences in conditions and terms of sale, for differences in taxation or otherwise, which may be required for the purpose of ensuring that the comparison between the fair market price and the export price is effectively a comparison between the prices on two similar sales.
(3) If it appears to the Minister that goods of that description are not being sold in the said country, or not in such circumstances that the fair market price can be determined in accordance with subsection (2) of this section, the fair market price shall be determined by him by reference to any price obtained for goods of that description when exported from the said country with adjustment made for the purpose mentioned in subsection (2) of this section, or, if he thinks fit, by reference to the cost or estimated cost of production of the goods the dumping of which is in question with such additions in respect of selling cost and profit as may appear to him to be proper.
(4) No account shall be taken under this section of any application of restrictions or charges on the export of materials from any country so as to favour producers in that country who use those materials in goods produced by them.

Cite this section

Section 9, CUSTOMS DUTIES (DUMPED AND SUBSIDISED GOODS) ACT (1958).

https://repo.podus.ai/laws/customs-duties-dumped-and-subsidised-goods-act/section/9/