KARACHI: The private sector has proposed the tax machinery to effectively check unauthorized import of counterfeit products through registration of brands with customs authorities in coordination with the original brand owner.
The private sector said that the proposed idea will increase import duties and stop import of counterfeit products.
It is noted that these sectors do not contribute anything towards direct tax except for advance income tax at imports.
It is being witnessed that Pakistan does not offer any substantial protection to its manufacturing/industrial sector, specially the industry which deals in international brands.
The private sector has suggested the government to fix values of imported goods on standard values rather than declared values by importers through this measure mis-declaration by importers could be discouraged.
It said that good values should be assessed on standard values for instance: tea is assessed on Reuters price rather than on value declared by importer.
Moreover, the private sector has suggested that declared values should be confirmed from the port of origin from where the goods have been shipped and this would help the appraisement department of customs in determining fair values of goods imported.
Furthermore, access should be given to all interested parties to the customs record. It further added that penalties for under-invoicing to be made more stringent, as under-invoicing by traders remains a big concern for all manufacturers.
It said that in past the Pakistan Customs Services has made arrangement to share information with Chinese customs authority. The aim behind this objective was to ensure that goods imported from china into Pakistan should be valued on the basis of information available with Chinese customs officials.
Budget proposals 2014-2015: effective check on counterfeit products suggested
