KARACHI: Federal Board of Revenue’s Directorate of Customs Valuation has revised value of new-branded heavy bikes.
Customs Valuation Director Wasif Memon revised the customs values of heavy motorcycles through Valuation Ruling No. 940/2016, which were earlier determined vide valuation ruling No.672/2016.
The customs values of new branded heavy motorcycles from all origins for model years 2009 to 2013 were determined vide Valuation Ruling No.672/2014, dated 03-04-2014.
In order to reflect the actual prices prevailing in the international market, an exercise was initiated in the Directorate Genera I of Customs Valuation for determination of the custom values of new branded heavy motorcycles for model years 2014 to 2016
Meetings with stakeholders were held on July 20, 2016 and September 21, 2016 which were attended by the importers and representative of M/s Atlas Honda Ltd, M/s Pak Suzuki Ltd and officials from Customs Appraisement-East and West.
