Valuation of Chinese origin printing ink increased by 36 percent

KARACHI: Pakistan Custom has increased the valuation of printing ink imported from china by 36 percent for correct assessment and enhanced duty / taxes.
In the Valuation Ruling No.634/2014, Directorate General of Customs Valuation has amended the valuation upward to reflect the current international prices prevailing in the market, according to notification.
The maximum values of printing ink imported from China is now fixed at $3/kg which was $2.2/kg in the previous valuation ruling issued in 2010.
Pakistan has signed Free Trade Agreement (FTA) with China for the promotion of bilateral trade but for the last many years it was in the favour of China just because of massive imports from the neighboring country under the FTA. The China import is also attractive for the local traders as they conceal heavy duty and taxes due to the facility of the FTA.
The following are the amended values of printing ink imported from China that are implemented from January 4, 2014:
Process yellow, $1.80
Process magenta/red, $2.20
Process cyan/blue, $2.20
Process black, $1.75
Deep/D-yellow, $2.00
Lemon/L-yellow, $2.05
Bronze red, $2.40
Deep red, $2.45
Bronze blue, $3.00
Peacock Blue, $2.20
Brilliant blue, $2.85
Brilliant green, $3.00
Tint medium/white, $2.00
All other colors, $3.00
The maximum value of printing ink imported Korea and Taiwan is increased by 37 percent from $2.65 in 2010 to current value of $3.64.
The following are the amended values of printing ink imported from Korea and Taiwan that are implemented from January 4, 2014:
Process yellow, $2.20
Process magenta/red, $ 2.35
Process cyan/blue, $2.40
Process black, $2.00
Deep/D-yellow, $2.45
Lemon/L-yellow, $2.55
Bronze red, $2.65
Peacock blue, $2.65
Brilliant blue, $3.55
Brilliant green, $3.65
Tint medium/white, $2.20
All other colors, $3.65
Imports of printing ink from Europe also included in the fresh valuation ruling as printing ink for newspaper colored in bulk packaging 25 kg & above will be assessed at the rate of $2.61 per kg and printing ink for newspaper black (in bulk packaging 25 kg & above will be assessed at the rate of $1.11 per kg.
The methodology adopted by the directorate for the valuation of printing ink was based on market inquiry that was conducted to determine the values of the items.

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