Karachi, April 13, 2024 – In a bid to accurately determine duty and taxes at the import stage, the Federal Board of Revenue (FBR) has introduced new customs valuations for several prominent brands of potato chips, including Lay’s and Pringles.
Karachi, April 10, 2024 – Pakistan Customs has initiated a significant revision in the valuation of imported potato chips to align them with international market standards. This move comes after approximately seven years since the last valuation update, reflecting the evolving dynamics of global trade.
Karachi, February 9, 2024 – In an effort to address under-invoicing concerns and streamline the determination of duties and taxes, Pakistan Customs has introduced a new valuation for old and used computer LCDs and LEDs.
KARACHI: Pakistan Yarn Merchant Association (PYMA) on Tuesday rejected customs ruling issued for determination of value of polyester filament yarn. READ MORE: PYMA seeks duty, taxes cut on yarn in budget 2022/2023 Saqib Naseem, Chairman Pakistan Yarn Merchants Association (PYMA) and Muhammad Junaid Teli, Vice Chairman, Sind & Balochistan region, have strongly rejected Valuation Ruling […]
ISLAMABAD: Importers will not be allowed to avail of the facility of provision valuation for goods declaration when the valuation of such goods is already in the field. An important amendment has been made into Customs Act, 1969 through Tax Laws (Third Amendment) Ordinance, 2021, which was promulgated through presidential order on September 15, 2021. […]
The Tax Laws (Third Amendment) Ordinance, 2021 has granted enhanced powers to the Member Customs, allowing them to annul or modify orders previously passed by the Director-General of Customs Valuation.
KARACHI: Pakistan Customs has assured business community of early resolution of pending valuation ruling issues on priority basis. Director General Customs Valuation Ms. Shahnaz Maqbool assured this at a meeting held with members of Pakistan Federation of Chambers of Commerce and Industry (FPCCI), a statement said on Thursday. According to the statement the FPCCI and […]
KARACHI: Pakistan Customs has linked the import value of iron and steel scrap with the prices published in London Metal Bulletin (LMB) in order to ensure smooth customs clearance, sources said on Thursday. The sources said that the Directorate of Customs Valuation last week issued valuation ruling for iron and steel scrap after considering fluctuation […]
KARACHI: Pakistan Customs has issued Valuation Ruling No. 1516 for determination of duty and taxes at the time of clearance of imported food supplements (drinking powder), sources said on Wednesday. The Directorate of Customs Valuation while issuing the valuation ruling dated February 18, 2021 stated that earlier the customs values of food supplements (drinking powder) […]
KARACHI: Federal Board of Revenue (FBR) has issued fresh customs values of mobile phone devices for the determination of duty and tax, sources said on Tuesday. The Directorate General of Customs Valuation has issued valuation advice dated February 18, 2021, in respect of mobile phone devices to determine assessable customs values of mobile phone devices. […]