FBR Revises Customs Values on Import of Non-Branded Low-End Speakers

The Directorate General of Customs Valuation Karachi has revised customs values on the import of computer/multimedia and Trolley Speakers.

According to a ruling issued on Wednesday by the Directorate, the new customs values of Computer/Multimedia and Trolley Speakers have been determined.

Earlier, the Customs values of Computer/Multimedia and Trolley Speakers were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1502/2020.

The directorate has issued new values on the import of Computer/Multimedia Speakers up to 8" (Low-End Brand) and Trolley Speakers 1.0 (Low-End Brands) and Multimedia Tower Speakers Table-C (Low-End Brands).

The new values are not applicable to international brands. The above-mentioned values are applicable only to Low-End Brands. Speakers with different specifications may be assessed under identical goods method or similar goods method as laid down in Section 25 (5) and (6) respectively of the Customs Act, 1969.

The Valuation Ruling is almost three years old and the values of subject goods in the international markets are showing varying trends. Therefore, keeping in view the above facts, an exercise was undertaken by the Directorate General of Customs Valuation to determine the Customs Values of subject goods in terms of Section 25-A of the Customs Act, 1969. Stakeholders’ participation in the determination of Customs values: A meeting was attended by relevant stakeholders of Computer/Multimedia Speakers.

The issues pertaining to the valuation of subject goods were deliberated upon in the afore-referred meeting. Analysis/Exercise done to determine Customs values: Ninety (90) days’ clearance data was retrieved and the same has been scrutinized. Subsequently, market inquiry has been conducted and examined in the light of this Directorate’s Office Order No. 17/2014 dated 19-03-2014 and in terms of Section 25(7) read with Section 25 (9) of the Customs Act, 1969.

Various markets were checked to observe the actual prices of Computer/Multimedia and Trolley Speakers. On the basis of available data/information collected and exercise conducted, the values of subject goods have been determined under sub-Section (7) of Section 25 of the Customs Act, 1969, it added.

Source: Pro Pakistani

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