28. Determination of value of taxable imports.—

The value of a taxable import shall be the summation of the following amounts‚ namely:—

(a) the value of the goods determined for the imposition of import duty under the Customs Act; and

(b) the amounts, if any, of customs duty, supplementary duty, or other taxes (other than VAT and advance income tax) payable on the import of the goods.