MDF board valuation revised on FPCCI plea

KARACHI: Directorate General of Customs Valuation has revised the value of Medium Density Fiber Board on the request of trade community including Federation of Pakistan Chambers of Commerce & Industry (FPCCI), according to a circular issued on Saturday.
The decision to revise the valuation was taken on the issue raised by the business community that the value of MDF Board specially imported from Malaysia and Thailand had not reflected the prevailing international prices.
The following customs valuations are revised:
MDF board (2.2mm to 3mm) imported from Sri Lanka will be assessed at $0.346/kg or 277/CBM whichever is higher. The similar specification imported from Malaysia, Thailand, China, Vietnam, New Zealand and Turkey will be assessed at the value of $0.337/kg or 270/CBM whichever is higher. While the same specification of MDF board imported from other countries will be assessed at $0.367/kg or 295/CBM whichever is higher.
MDF board (3.1mm to 6mm) imported from Sri Lanka will be assessed at $0.348/kg or 272/CBM whichever is higher. The similar specification imported from Malaysia, Thailand, China, Vietnam, New Zealand and Turkey will be assessed at the value of $0.339/kg or 265/CBM whichever is higher. While the same specification of MDF board imported from other countries will be assessed at $0.369/kg or 290/CBM whichever is higher.
MDF board (6.1mm to 9.9mm) imported from Sri Lanka will be assessed at $0.34/kg or 260/CBM whichever is higher. The similar specification of MDF board imported from Malaysia, Thailand, China, Vietnam, New Zealand and Turkey will be assessed at $0.33/kg or 253/CBM whichever is higher. While the same specification of MDF board imported from other countries will be assessed at $0.36/kg or 278/CBM whichever is higher.
MDF board (10mm to 14.9mm) imported from Sri Lanka will be assessed at $0.34/kg or 255/CBM whichever is higher. The similar specification imported from Malaysia, Thailand, China, Vietnam, New Zealand and Turkey will be assessed at the value of $0.33/kg or 248/CBM whichever is higher. While the same specification of MDF board imported from other countries will be assessed at $0.36/kg or 273/CBM whichever is higher.
MDF board (15mm to 25mm) imported from Sri Lanka will be assessed at $0.349/kg or 250/CBM whichever is higher. The similar specification imported from Malaysia, Thailand, China, Vietnam, New Zealand and Turkey will be assessed at the value of $0.339/kg or 243/CBM whichever is higher. While the same specification of MDF board imported from other countries will be assessed at $0.369/kg or 268/CBM whichever is higher.
A circular said that if declared transactional values are higher than the customs value then the assessing officers shall apply those values in term of Sub-Section (1) of Section 25 of the Customs Act, 1969.
In case of consignment imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the customs value determined.

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