KARACHI: The director customs valuation Wasif Memon has revised the customs values of synthetic rubber vide valuation ruling No.912/2016.
Customs values of synthetic rubber (NBR & SBR) were determined earlier vide valuation ruling No. 772/2015. The trade community has been demanding revision of prices of this commodity owing to downward trend in its prices in the international market. In the light of orders of Sindh High Court, an exercise was initiated to determine the values of synthetic rubber afresh.
The customs values of synthetic rubber (SBR) under PCT 4002.1900 of Korea, India, China, Taiwan, Brazil, Indonesia, Thailand, UAE, Iran & Russia are fixed at $1.5/kg, all other origins would be assessed for customs duty/taxes at $1.70/kg.
The customs values of synthetic rubber (NBR) under PCT 4002.5900 of Korea, China, Taiwan, Indonesia and Thailand are fixed at $1.75/kg, all other origins would be assessed for customs duty/taxes at $2.0/kg.