KARACHI: The Directorate General of Customs Valuation has issued the reference values for vinyl acetate monomer.
According to the information received, the directorate general has initiated an exercise to develop database values for different items wherein it has been observed that declarations are of wide range and do not correctly reflect values of the items as traded in the international market.
During the scrutiny of previous clearance data, it has been observed that vinyl acetate monomer falling under PCT headings 2915.3200 is being assessed at different values and certain transactions are on very low side.
The valuation department, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. According to a statement issued by the department, online prices were also obtained to corroborate the findings of the market surveys. This office, therefore, has found that the customs values of vinyl acetate monomer are as follows:
The reference values of vinyl acetate monomer of China are fixed at $0.949/kg, of Saudi Arabia at $0.835/kg and of Taiwan at $0.95/kg.
The notification states that these reference values are, however, for reference/guidance only and final assessment may please be made after considering others factors which have baring on the customs values.
The clearance collectorate may like to consider the values given above before finalizing the assessment of the subject items. If further fine-tuning in specifications and ensuing values are required, collectorate may forward a reference along with detailed justification and worksheets so that requisite adjustments are accordingly issued.
