ISLAMABAD: The Federal Board of Revenue (FBR) has decided to constitute a valuation committee for regulating bilateral trade between Pakistan and Afghanistan and Pakistan and Iran.
In this regard, the FBR on Friday issued SRO.1352(I)/2021 to amend Customs Rules, 2021, to accurately determine the value of goods of Afghan and Iran origin to reduce incidences of under-invoicing and smuggling.Â
In case an item is being imported through the sea route in significant quantities from Iran, the value of items shall be determined in consultation with the Karachi Directorate of Valuation.
In addition, the respective Customs Collector, in his area of jurisdiction may determine the customs values of goods or category of goods imported or exported to or from Afghanistan and Iran through land stations by constituting a valuation committee including one additional collector, two deputy or assistant collectors, one superintendents or principal appraisers or inspectors as required, a representative of the respective chamber of commerce and industry, a representative of the Customs’ Clearing Agent Association, the All Pakistan Dry Fruits Importer and Exporter Association (APDFIEA), All Pakistan Fresh Fruits Importer and Exporter Association (APFFIEA), and any other co-opted member as deemed appropriate by the collector.
The values determined by the committee shall be valid for six months whereas it shall submit its recommendations to the respective Customs collector within thirty days from the date of its constitution.
In case the collector considers that any item requires further deliberations, they shall refer the matter back to the committee, the document states.
Moreover, if any valuation ruling is being issued for the goods imported from Afghanistan or Iran via land border stations by the Directorate General Customs Valuation, Karachi, the same shall be applicable forthwith disregarding local valuation.
