FBR Revises Customs Values on Imported Tyres and Tubes of Trucks and Buses

The Directorate General Customs Valuation Karachi has revised customs values on tyres and tubes of trucks and buses imported from Japan and China. The Directorate has also revised customs values on the import of dry coconut and dry copra from Sri Lanka, Indonesia, and Malaysia, desiccated coconut imported from all origins, and amended values on the import of frozen pangasius fillet, rohu and salmon fish from Vietnam and Myanmar. According to a valuation ruling issued on Monday, the customs values on the import of tyres and tubes of light trucks and buses have been revised. Through another ruling, the customs values of frozen pangasius fillet, rohu and salmon fish have been determined. Earlier, the Customs values of frozen pangasius fillet, rohu and salmon fish were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1399/2019. The existing valuation ruling was more than three years old and the customs values determined therein were not reflective of the prevailing international market. Therefore, an exercise has been undertaken by this Directorate to determine the same. Under two other separate rulings, the customs values of dry coconut/dry copra and desiccated coconut have also been determined.