Pakistan’s manufacturers and importers are being encouraged to participate in meetings at which customs officials are revising values for imported goods.
The Directorate General of Customs Valuation in Karachi is currently working to provide revaluations that will help customs officials identify under- and over-invoicing activities.
Officials are particularly keen to involve both importers and manufacturers in the revaluation process.
So far, importers have proved quite willing to participate in the process but manufacturers have seemed less enthusiastic.
Customs officials want manufacturers involved to either verify or challenge prices suggested by importers.
The revaluation is a major exercise for customs officials who are introducing new or more detailed – twelve rather than eight digit – product classification codes for goods.
Categories: Trade Based Financial crimes News