Customs Valuation issues valuation guidelines

KARACHI: Directorate General Customs Valuation devised a plan to streamline values of importable values to check under-invoicing, which is not only causing revenue loss to the exchequer, but it also has deprived the local manufacturing of level playing field.

Directorate General of Customs Valuation 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.

The reference values of Sodium Formaldehyde Sulphoxylate Chips Form under PCT 2831.9010 of India are $1.525/kg.

The reference values of Acetic Acid under PCT 2915.2100 of China/Saudi Arabia are $0.37/kg.

The reference values of  Glacial Acetic Acid under PCT 2915.2100 of Taiwan are $0.50/kg, of Korea are $0.54/kg.

The reference values of Pentaerythritol (98% min.) under PCT 2905.4200 of China/Taiwan are $1.425/kg.

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