Customs values on import of branded potato chips revised

ISLAMABAD: Directorate General of Customs Valuation Karachi has revised Customs values on the import of branded potato chips from all origins.

In this regard, a new valuation ruling has been issued by the directorate on Tuesday.

The new ruling would be applicable on the import of Lay’s, Pringles, Ligo, Chizzpa/Master, Mister Potato, Chips, Kettle, Poppin, Kracks, Hunter’s, Mister Chips and Crunchitos/Daffodil.

The representations were received from importers for revision and inclusion of brands in the Valuation Ruling. As the existing ruling is more than two years old and the determined Customs values were no longer reflective of the prevailing international market prices, this Directorate undertook an exercise for the re-determination of Customs values of the subject goods. Accordingly, meeting notices were issued to all relevant stakeholders, and detailed discussions and consultations were carried out with them.

During the meeting, the stakeholders/importers contended that their brands were not included in the ruling and that assessments were being made at higher values. Therefore, they requested that their brands be incorporated into the ruling and that Customs values be determined in accordance with prevailing international prices. However, they maintained that their declared transaction values were genuine and consistent with recent import trends.

The viewpoints of the stakeholders were thoroughly analyzed, and a detailed examination of import data for the preceding ninety days was conducted in conjunction with a review of the documentary evidence submitted by the stakeholders.

Subsequently, market inquiries were also conducted and examined in the light of this Directorate’s Office Order No l712014 dated 19.03.2014 and in terms of Section 25(7) of the Customs Act,1969. Furthermore, brand-wise analysis and the net content weight mentioned on the retail packing were also taken into consideration to ensure a more objective, transparent, and realistic basis for determination of Customs values.

The valuation exercise was carried out by considering prevailing international market trends, import patterns, and the relative market positioning of different brands so as to arrive at fair and equitable Customs values of the subject goods.

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