Valuation guidelines notified

KARACHI: The Directorate General of Customs Valuation is actively pursuing ‘Tanveer Plan’ and the development of database values and issuance of reference values of importable items have started yielding results.

Director General Customs Valuation Syed Tanveer Ahmed devised a plan to streamline values of importable values to check under-invoicing, which is not only causing revenue loss to the exchequer, but it also has deprived the local manufacturing of level playing field.

Directorate General of Customs Valuation has initiated an exercise to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in the international market.

The reference values of purified terephthalic acid under PCT 2917.3610 of all origins are fixed at $0.68/kg.

The reference values of PVC file covers, file folders, pouches and envelopes under PCT 3926.1000 of all China are fixed at $2.4/kg.

The reference values of Alcohol pads (swab) under PCT 3005.9090 of China are fixed at $0.75/kg.

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