KARACHI: The Directorate General of Customs Valuation has intensified the efforts to issue rulings for accurate value of goods for determination of duty and taxes as the department issued six valuations in just two days and more in pipeline.
Sources in Pakistan Customs said that the valuation rulings were being issued on the directives of Federal Board of Revenue (FBR) chairman to assess the correct value of goods to generate more revenue besides discouraging corruption and leakages.
For the past many days a team of the directorate engaged in identifying the true value of goods. The team comprises officers including: Director General Nazim Saleem; Director Suraiya Ahmed Butt, Additional Director Wajid Ali; Additional Director Shazia Ikram; Deputy Director Rashid Jameel; and Assistant Director Shehzad Khan.
Additional Director Iqbal Muneeb and Deputy Director Mushtaq Shahani recently joined the team to further strengthen the capacity.
Sources said that it was great achievement for the directorate to issue six valuation rulings in just two days. They said that previously the valuation rulings were only issued to benefit traders or opening the doors for corruption.
There are several rulings where values were increased and later revised on ‘done deal’. The goods that were revalued included goods, garments, cosmetics, crockery etc.