KARACHI: Directorate General of Customs Valuation has issued a valuation advice in respect of export of copper scrap and copper billets.

Complaints were received that there is no uniformity in assessment of value of export of copper scrap and copper billets at different customs stations.

Subsequently MCC Export Karachi started making assessments at $4/kg for copper scrap and $5/kg for copper billets and requested up-country collectorates to adopt this practice.

The complaint is also being heard by the Federal Tax Ombudsman (FTO). On the instructions of FTO, Collector MCC Exports forwarded a reference to the Directorate General to determine customs values of copper scrap and copper billets for export for uniform application across the country.

Final determination entails inquiries and stakeholders’ participation and inputs, therefore, during the interim period a Valuation Advice is being issued. Meanwhile for uniformity’s sake it is advised that Customs values as given may be considered for the purpose of assessment of duty, taxes at the time of exports.

The Customs values of copper waste and scrap under HS Code 7404.0090 are fixed at $4/kg (FoB).

The Customs values of copper waste and scrap under HS Code 7403.1300 are fixed at $5/kg (FoB).