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ISLAMABAD: Directorate General of Customs Valuation Karachi has fixed new prices on import of 31 different types of power tools for accurate determination of duties and taxes.
Meetings were held with the relevant stakeholders as per the valuation ruling issued by the Directorate.
Pursuant to analysis of import data, current market trends, differences in market prices, and customs values, an exercise was undertaken to determine the customs values of the subject headings under Sections 25 and 25A of the Customs Act, 1969.
Stakeholders claimed that there is huge under-invoicing of power tools by some importers in Pakistan which can be verified from PRAL data. Market inquiries and international publication prices have confirmed that values are on the high side.
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