KARACHI: Directorate General of Customs Valuation Karachi has established a new customs value of $1.8 per kilogram for empty tin cans originating from all sources. This decision, delineated in valuation ruling number 1864 of 2024, stems from concerns raised by M/s Fine Daily (Pvt.) Ltd. regarding potential under-invoicing in the import of these cans.
The representation forwarded by M/s Fine Daily, and subsequently endorsed by the office of the Chief Collector of Customs (Appraisement), prompted a meticulous assessment of the issue. The Directorate undertook a comprehensive examination, leveraging data from Pakistan Revenue Automation Limited (PRAL) and scrutinizing international market price trends.
During deliberations, M/s Fine Daily contended that while they adhered to declaring a C & F value of $1.8/kg for imported empty tin cans, other market players were allegedly engaged in under-invoicing practices, thus depriving the national exchequer of rightful revenue. To substantiate their claim, a thorough analysis of ninety days’ worth of data was conducted, revealing a substantial number of assessments aligning with the declared value of $1.8/kg.
In light of this compelling evidence and after due consultation with stakeholders, the Customs value for empty tin cans has been formally established under Section 25(5) of the Customs Act, 1969, at $1.8/kg. This proactive measure is aimed at fortifying fair valuation practices and safeguarding against revenue losses stemming from under-invoicing in the importation of this commodity.
This initiative underscores the Directorate’s commitment to ensuring transparency and equity in trade practices while safeguarding the interests of the national economy.
