KARACHI: Directorate General of Customs Valuation has issued several valuation guidelines for the reference of clearance collectorates.
Directorate General of Customs Valuation has initiated an exercise to develop database values for about 2000-3000 different items which are not commensurate with international price trends.
An exercise was initiated to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in international market.
During the scrutiny of previous clearance of data, it was observed that Danish Cookies under PCT 1905.3100 are being assessed at different values and certain transactions are on very low side.
The team formed by Director General Syed Tanveer Ahmed, which is headed by Deputy collector Rizwan Bashir, after carefully examining the clearance data and conducting market inquiries, the reference values or valuation guidelines are issued suggesting the values at $4.35/kg for Danish cookies of all origins.
The reference values of Christmas/Rice lights under PCT 9405.3000 of China are fixed at $4.0/kg, of Far East/UAE at $4.5/kg, of Europe/USA at $5.25/kg and other origins at $4.55/kg.