Pakistan Revenue
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.
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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 […]
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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 […]
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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) […]
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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. […]
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KARACHI: Customs values of imported artificial / imitation jewellery have been increased for determination of duty and taxes at the time of customs clearance. The Directorate General of Customs Valuation has issued Valuation Ruling No. 1509/2021 dated January 27, 2021. The directorate said that earlier the customs values of artificial jewellery were determined under Section […]
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KARACHI: Pakistan Customs has enhanced the imported low-end brand garments from China and other destinations after identifying data variations in Electronic Data Exchange (EDE).
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KARACHI: Federal Board of Revenue (FBR) on Thursday published customs valuations on its official portal to facilitate trade and for ease of doing business. A day earlier FBR Chairman directed the authorities to ensure availability of valuation rulings in order to trade facilitation and ease of doing business. The FBR published following valuation rulings at […]
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The Pakistan Yarn Merchants Association (PYMA) has officially rejected the new valuation ruling for polyester filament yarn (PFY) issued by the customs authorities, terming it as “unjust” and not reflective of the current global market prices.
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Karachi: Pakistan Customs has issued a statement clarifying the assessment and clearance process for Mazda Titan Trucks. According to the circular issued by the Model Customs Collectorate of Appraisement – West, these trucks will be evaluated and cleared based on values prescribed in accordance with the manufacturer’s suggested retail price or any applicable valuation ruling. […]
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