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PACCS is strictly compliant to the GATT code of valuation. PACCS does not recognize concepts such as minimum value, ITP, agreed values or any other concept contrary to the provisions of the Customs Act,1969 or the GATT code.
PACCS accepts transactional values in accordance with the provisions of section 25 of the Customs Act.
Will Customs accept any value as declared by the importer or the agent?
No. Customs is under no obligation to accept any value as declared by the importers or the agent. In case Customs has reason to believe that the declared value is not the actual transactional value Customs shall proceed to ascertain the correct transactional value by the methods as provided in section 25 of the Customs Act.
In the absence of ITP or minimum value concepts, transactional values of different principals may differ for the same product. Will Customs accept different transactional values?
Yes. The GATT code and section 25 of Pakistan Customs Act,1969, recognize the commercial reality that transactional values of different importers may be different for identical goods. Customs will look carefully at all declared values and where satisfied that the declared value is the correct transactional value, it will be accepted.
What about agreed values?
Agreed value has no legal basis under the existing Customs laws of Pakistan or the GATT code. Secondly agreed value is basically an agreement for minimum value, which is contrary to the provisions of the Customs Act 1969.
What about the daily price list?
It is the responsibility of the importer to declare transactional value of goods to Customs; its unfair to expect Customs to tell the importers what values shall be accepted if declared as transactional values. After looking at the daily price lists the unscruplous importers tend to conceal their correct transactional values and declare those values that match the daily price list. Printing of daily price lists is against the existing laws of the country and have no relevance whatsoever to PACCS.
(legislation)
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