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, November 4, 2023 – Federal Board of Revenue (FBR) has issued new customs values of tyres and tubes for determination of duty and taxes after massive fall of revenue under this head.
A classification committee of Pakistan Customs has settled dispute for clearance of all-in-One Interactive Computer System, Core i7 with 86 inch touch LCD.
ISLAMABAD: The Federal Board of Revenue (FBR) will constitute local valuation committee for customs valuations of goods imported or exported from Afghanistan and Iran. Through SRO 1352 (I)/2021 dated October 14, 2021, the FBR issued draft amendments for local valuation committee rules under Section 25A of the Customs Act, 1969. The proposed amendments would be […]
ISLAMABAD: Directorate General of Customs Valuation has been assigned to stop trade based money laundering through effective monitoring of goods clearance specially those goods having lower duty rates or exempt from duty and taxes. The Federal Board of Revenue (FBR) on Friday issued SRO 503(I)/2021 to redefine functions of the Directorate General of Customs Valuation. […]
KARACHI: The Directorate General of Customs Valuation has issued valuation advice for Afghan origin goods on recommendations received from Peshawar and Quetta collectorates. Previously a valuation advice was issued on December 12, 2020 in the light of values worked out and recommendations by MCC (Appraisement and Facilitation), Peshawar and Quetta, for Afghan origin goods imported […]
KARACHI: Federal Board of Revenue (FBR) has been advised to simplify valuation and levy of duty and taxes on imported vehicles. Officials in FBR said that in budget proposals received for 2020/2021, the business community proposed simplification of valuation and fixing duty and taxes. According to the proposals the valuation of vehicles may also be […]
KARACHI: Federal Board of Revenue (FBR) has been recommended to fix time limit for issuance of customs valuation. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in its proposals for budget 2020/2021, said that the validity of Valuation Ruling under Section, 25-A of the Customs Act, 1969 is life time utill or unless revised […]
ISLAMABAD: Federal Board of Revenue (FBR) has decided to publish all prevailing valuation rulings to its official website in order to make customs clearance transparent and ease of doing business. The FBR in a statement on Thursday said that the chairman Syed Shabbar Zaidi, had issued special instructions to publish all Customs Valuation Rulings on […]
KARACHI: In order to prevent under-invoicing and mis-declaration the customs authorities have powers to accept offer from any person to allow clearance at higher value than the declared by an importer for the same consignment. The Customs Act, 1969 has authorized the customs officials to allow such offer under Section 25C of the Act to […]