FBR Revises Customs Values on Import of Nylon Yarn From China and Taiwan

The Directorate General of Customs Valuation has revised and rationalised customs values on Nylon Yarn imported from China and Taiwan.

A new valuation ruling issued on Thursday replaces older assessments and updates the customs values for Nylon Textured Stretch, Nylon Filament, and Nylon Mono Filament yarns.

The revision follows a formal request from the Pakistan Yarn Manufacturers Association, which argued that the existing customs values under Ruling No. 1473 of 2020 were no longer aligned with international market rates.

In response, the valuation directorate initiated a fresh determination exercise under section 25A of the Customs Act 1969.

Officials said all relevant stakeholders were invited for consultations and asked to submit supporting documents.

During the meeting held in Karachi, representatives of the Pakistan Yarn Merchants Association provided evidence of lower global prices and urged the government to align valuations with actual transaction values and internationally recognised pricing publications.

The Directorate stated that it examined 90 days of import data, global market trends, and documentation submitted by industry participants.

Each viewpoint was reviewed to ensure that the updated values reflected a fair and transparent assessment in line with section 25 of the Customs Act.

After completing the evaluation, Customs determined revised values for all three categories of Nylon Yarn, ensuring they correspond with current international benchmarks.

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The Directorate General of Customs Valuation has revised and rationalised customs values on Nylon Yarn imported from China and Taiwan.… Read More

The post FBR Revises Customs Values on Import of Nylon Yarn From China and Taiwan appeared first on ProPakistani.