Wristwatches from China: FBR sets import values

ISLAMABAD: Karachi Directorate General of Customs Valuation has for the first time fixed the values ​​of wristwatches (low-end brands) from China to control the evasion of duties and taxes at the import stage .

In this regard, the leadership of the Federal Board of Revenue (FBR) issued assessment decisions on Thursday.

Import values ​​for wristwatches were set between $1.50 per piece and $6.6 per piece.

Said values ​​are not applicable on well-known brands such as Casio, Citizen, Roamer, Alba, Seiko, Omax, Onyx, Westar, FavourLuba, Rolex, Rado, Calvin (CK) Tissot, Titan, Raymond Well, Swatch, Tag Heuer, Cartier, Baunce & Mercier, (B&M), Sonex, Longines, Forecer21, Prestige, etc.

According to the decision, it has been brought to the attention of management that the values ​​of wristwatches (low-end brands) from China are declared to customs at much lower values ​​than their current international values ​​in the absence evaluation decision in the field. Verification by this branch confirmed this position.

Given this prevailing price of the subject goods, an exercise in determining the values ​​for duty of wristwatches (low end brands) under Section 25A of the Tariffs Act 1969.

Finally, customs clearance data, raw material prices, international prices via the Internet were thoroughly examined and the information thus collected was used and analyzed to determine the customs values ​​of wristwatches (low-end brands) , added the management.

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The management also raised customs values ​​on the import of handbags, shoulder bags, purses and clutches made of artificial leather (low-end brands) from China. This valuation decision only applies to handbags/shoulder bags/purses/clutches and wallets, made of artificial leather only (i.e. not genuine or composite leather). Customs clearance data, raw material prices, international prices on the Internet were thoroughly examined, and the information thus collected was used and analyzed to determine the customs values ​​of handbags, shoulder bags, wallets. coins and artificial leather pouches (low-end brands) in section 25(9) of the Customs Act 1969.

In accordance with a new assessment decision, the management has tightened customs values ​​on the import of playing cards (made of paper/plastic coating/plastic) from China, Taiwan and the United States.

Another valuation ruling revised the import customs values ​​of latex rubber yarn from China, Malaysia and Thailand.

Previously, customs values ​​for latex rubber yarn were determined under Section 25A of the Customs Act 1969, Customs Values ​​of Void Valuation Decision 2019. However, representations have been received from importers and manufacturers for the revision and rationalization of the existing evaluation decision in the light of the transient values ​​prevailing in the international market. Accordingly, an exercise was initiated within this Directorate to determine the customs values ​​of the goods in question pursuant to Section 25A of the Customs Act 1969.

The directorate also determined import customs values ​​for unplasticized polyvinyl chloride (UPVC) pipe; Chlorinated polyvinyl chloride (CPVC) tubing; Polyethylene/High Density Polyethylene (HDPE/PE) pipe fittings and pipe fittings under Section 25A of the Customs Act 1969.

Previously, customs values ​​for pipes and fittings were determined in accordance with Valuation Decision No. 1259/2018. Claims for re-determination of customs values ​​have been received in this branch for over four years.

In addition, the Quetta Chamber of Commerce and the Sarhad Chamber of Commerce and Industry filed representations before the FBR.

A meeting was held at the FBR headquarters, chaired by the President of the FBR and attended by the Member (Customs Policy), the Director General of Customs Valuation and other participants, including representatives of the two bedrooms.

Bearing in mind the difference between land and sea route freight, quality of goods and other socio-economic factors, the Board forwarded a registration note. In view of the foregoing, an exercise has been undertaken by this Directorate to re-determine the customs values ​​of the goods in question pursuant to Section 25A of the Tariffs Act 1969.

The eight percent reduction is allowable on a total of the above value due to transportation costs, if the goods are imported by land, the new ruling added.

Copyright Business Recorder, 2022

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