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2. (a) The value for Customs purposes of imported merchandise should be based on the actual value of the imported merchandise on which duty is assessed, or of like merchandise, and should not be based on the value of merchandise of national origin or on arbitrary or fictitious values. , ■ . (b) "Actual value " should be the price at which, at a time and place determined by the legislation of the country of importation, and in the ordinary course of trade, such or like merchandise is sold or offered for sale under fully competitive conditions. To the extent to which the price of such or like merchandise is governed by the quantity in a particular transaction, the price to be considered should uniformly be related to either (i) comparable quantities, or (ii) quantities not less favourable to importers than those in which the greater volume of the merchandise is sold in the trade between the countries of exportation and importation. (c) When the actual value is not ascertainable in accordance with subparagraph (b) of this paragraph, the, value for Customs purposes should be based on the nearest ascertainable equivalent of such value. 3. The value for Customs purposes of any imported product should not include the amount of any; internal tax, applicable within the country of origin or export, from which the imported product has been exempted or has been or will be relieved "by means of refund. 4. (a) Except as otherwise provided for in this paragraph, where it is necessary for the purposes of paragraph 2.0f this Article for a contracting party to convert into its own currency a price expressed in the currency of another country, the conversion rate of exchange to be. used shall be based on the.par values of the currencies involved as established, pursuant to the Articles of Agreement of the International Monetary Fund or by special exchange agreements entered into pursuant to Article XV of this Agreement. (b) Where no such par value has been established, : the conversion rate shall reflect effectively the current value, of such currency in commercial transactions. (c) The CONTRACTING PARTIES, in agreement with the International Monetary Fund, shall formulate rules governing the conversion by contracting parties of any foreign currency in respect of which multiple rates of exchange are maintained consistently with the Articles of Agreement of the, International Monetary Fund. Any contracting party may apply such rules in respect of such foreign currencies for the purposes of paragraph 2 of this Article as an alternative to the use of par values. Until such rules are adopted by the CONTRACTING PARTIES, any contracting party may employ, in respect of any such foreign currency, rules of conversion for the purposes of paragraph 2 of this Article which are designed to reflect effectively the value of such foreign currency in commercial transactions. (d) Nothing in this paragraph shall be construed to require any contracting party to alter the method of converting currencies for Customs purposes which is applicable in its territory on the date of this Agreement, if such alteration .would have the effect of increasing generally the amounts of duty payable.