This document provides policy guidelines for interpreting Decision 3.1, "Treatment of Interest Charges in the Customs Value of Imported Goods," adopted by the World Trade Organization (WTO) Valuation Committee, under the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 (the International Valuation Agreement).

Interest charges can be excluded from the customs value of imported goods when they are paid for under a financing arrangement, as long as the following conditions are met:

(a) the charges are distinguished from the price actually paid or payable for the goods;

(b) the financing arrangement was made in writing;

Evidence required to exclude the interest charges

(c) where required, the buyer can demonstrate that:

(i) such goods are actually sold at the price declared as the price actually paid or payable, and

(ii) the claimed rate of interest does not exceed the level for such transactions prevailing in the country where, and at the time when the finance was provided.

Interest charges incurred by the buyer on deferred payment of goods are to be added to the price actually paid or payable for the goods when determining their customs value. However, the interest charge must be reflected in the transaction value of the goods and must not be added as a separate amount.

Further evidence to support any claim to exclude the interest charge from the customs value maybe requested, for example:

  • a copy of the finance agreement
  • a copy of the contract of sale of the goods if it contains the financing clause
  • information to show that the claimed rate of interest is not excessive

Please click on the hyperlink below for detailed information regarding Zimbabwe Customs valuation system:

Valuation manual

Customs and Excise Act [Chapter 23:02]


This article was compiled by the Zimbabwe Revenue Authority for information purposes only. ZIMRA shall not accept responsibility for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority, (ZIMRA).