BEIJING: Customs department has suffered enormous revenue loss of Rs 39.9 billion in CY 2013, following unprecedented mis-declaration in the imports of only 37 Chinese items; it was learnt here on Sunday. According to sources, customs department after cross-matching the export data of China customs with the import data of Pakistan customs for the year 2013 came to know that the import value of 37 items declared before Pakistan customs was short by $2437 million than what had been recorded by China customs as export value to Pakistan.
Sources said that importers through mis-declaration in the tariffs of these items evaded customs duty amounting to $399.64 million or Rs 39.9 billion in calendar year 2013.
Similarly, in some 13 other tariff lines, the import value declared before Pakistan customs is in excess of $892 million than what has been reported by China customs as export value to Pakistan.
Sources further said that this was indicative of possible misclassification of those goods which attract higher rates of duty but were cleared as goods falling in the ambit of low customs tariff. Through said misclassification, significant revenue shortfall has been faced by the customs department.
Replying to a question, sources said that all concerned Collectorates had been directed to take measures to recover duty and taxes, evaded in the imports of these Chinese items.
Sources said that Pakistan Business Council (PBC) in its report also cited that under-invoicing and misreporting in the imports from China stood at pinnacle in 2013.
The trade value difference between these two countries hovered around US $1.5 billion for past many years but it escalated to $3.3 billion in 2013, showing over 100 per cent increase in mis-declaration, report said. China”s exports figure to Pakistan showed $11.02 billion in 2013 however Pakistan”s imports from China were reported to $7.63 billion, reflecting $3.3 billion mis-declaration.
Major discrepancy was reported in the imports of electronics and electrical equipment, machinery, manmade filaments, manmade staple fibers, iron and steel, organic chemicals, plastics and articles of iron and steel, fertilisers and rubber and articles.
