ISLAMABAD: The Directorate General of Customs Valuation has fixed customs value on the export of “Wooden Splint” for matches at $ 0.6 per kg for accurate assessment of duties and taxes.
The directorate has issued a ruling on Wednesday for the fixation of minimum customs value on the export of the said item.
In this regard, the Directorate of Customs valuation Lahore received references from different stakeholders for issuance of Valuation Ruling for Wooden Splint for Matches. Therefore, an exercise was undertaken by the Directorate to determine the same.
In order to rationalize the export values of subject goods, an exercise was undertaken by the Directorate of Customs Valuation Lahore to determine the Customs Export Values of subject goods.
The ruling revealed that meetings were convened which were attended by the stakeholders including representatives of Match Associations, manufacturers-cum-exporters of Safety Matches and Wooden Splint for Matches. The issue pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meetings. All stakeholders submitted their proposal for consideration and the same were thoroughly perused pertaining to the valuation of subject goods.
The stakeholders contended that some exporters were exporting Wooden Splint for matches at hugely under-invoiced values as compared to the internationally acceptable values.
The documents submitted by the stakeholders, arguments submitted during the meeting, price trends and exports data were also examined for determination of customs export value of the subject goods.
Therefore, export data, market survey, international market trends and documents submitted by stakeholders were examined to arrive at customs export values of the subject goods, the ruling added.
Copyright Business Recorder, 2023