FBR Increases Customs Value on Import of Desiccated Coconut

Directorate General of Customs Valuation Karachi has fixed new customs values ($1 per kg to $1.6 per kg) on the import of desiccated Coconut from all origins. According to valuation ruling number 1970 of 2025 issued on Tuesday, in pursuance of analysis of import data, current market trends, the difference in market prices and customs values, an exercise for the determination of customs values of subject goods was initiated under Section 25 and 25A of the Customs Act, 1969. A meeting for the determination of customs values was attended by the relevant stakeholders. Their viewpoints were heard in detail in view of the determination of customs values of the subject goods under Section 25A of the Customs Act, 1969. They were requested to submit relevant import documents to substantiate their contentions. For the determination of customs values of subject goods, ninety (90) days data was retrieved and the same was thoroughly scrutinized. Some references to declared values were available. Subsequently, Market inquiry has been conducted and examined in the light of this Directorate’s Office Order and in terms of Section 25(7) of the Customs Act, 1969. As a result, after adjusting the amounts of profits, the C&F value was determined under Section 25(7) of the Customs Act, 1969. In view of the above the transaction value of the said goods has been determined and hereinafter specified shall be the Customs value for assessment of duty & taxes. The directorate has fixed values on the import of desiccated Coconut (High Fat and Low Fat), it added.