ISLAMABAD: Directorate General Customs Valuation Karachi has increased customs values on the import of branded honey from America, Europe, Australia, New Zealand and other foreign origins.
The imported branded honey used by the rich class would now be subjected to higher rates of customs values for assessment of duties/ taxes.
Through another ruling, the directorate has also included Turkey in the list of countries subjected to customs values on the import of cat and dog food. Such food was also coming from North America/ Europe, China and Thailand.
In this connection, the directorate has issued two valuation rulings on Wednesday.
According to a valuation ruling issued by the directorate on Wednesday, the Customs values of pet food (cat and dog food) were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No1570/2021 dated 25-11-2021 which was set aside by the director general of Customs Valuation with directions to re-determine the Customs values of pet food (cat and dog food).
As per the ruling, the Customs values of honey were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No1569/2022 dated 19-11-2022.
However, the Collectorate of Customs (Appraisement), Lahore asked this Directorate General of Customs Valuation regarding clarification in import of bulk packing (honey) as required in Order-in-Original No490/ 2022 dated 31.08.2022 passed by the Collectorate of Customs (Adjudication), Lahore.
In this regard, the Directorate General of Customs Valuation, Karachi initiated an exercise to re-determine the customs values of honey, as well as, bulk packing.
Stakeholders’ participation in determination of Customs values: Meetings were convened which were attended by all the relevant stakeholders.
The issues pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meetings.
Analysis/ Exercise done to determine Customs Values and 90 days clearance data has been retrieved and the same has been scrutinized. Subsequently, market inquiry has been conducted and examined in the light of this Directorate’s Office under the Customs Act, 1969.
Various retail markets were visited to observe the actual prices of honey. On the basis of available data/ information collected and exercise conducted, the values of honey have been determined under the Customs Act, 1969, the ruling added.
Copyright Business Recorder, 2022