Customs Valuation circulates guidelines to check under-invoicing
KARACHI: Directorate General of Customs Valuation has issued more valuation guidelines for the reference of assessment staff to avoid under-invoicing.
Directorate General has initiated an exercise 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 the international market.
During the scrutiny of previous clearance data, it has been observed that a number of goods being assessed at different values and certain transactions are on very low side.
Authorities conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys.
The reference values of Key-chain made of plastic material under PCT 3926.9099 of China origin are $2.5/kg.
The reference of values of Samsonite brand laptop backpack under PCT 4202.1900 of China origin are fixed at $20/pc.
The reference of values of Acrylic bath tub without motor & accessories (low end brands) under PCT 3922 of China origin are fixed at $3.5/kg.