FBR Fixes New Customs Value On Import of PVC Stabilizer

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The Directorate General of Customs Valuation Karachi has fixed $1.70 per kg as the new customs value for the import of PVC Stabilizer for assessment of duties and taxes.

In this connection, the Federal Board of Revenue’s (FBR) directorate issued a new customs valuation ruling (1831 of 2023) on Wednesday.

Earlier, the Customs value of PVC Stabilizer was determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.l583/2021. However, different stakeholders requested to re-determine customs values afresh in line with values prevalent in the international market. Therefore, an exercise has been undertaken by this Directorate to determine the same.

The importers contended that the values are higher in the Valuation Ruling and the same needs to be revised downwards at prevailing international prices. They also submitted proposals in this regard, they said that they import pVC Stabilizer intakes form for use in the pipe industry. They further argued that the importers of China & Malaysia origin enjoy the benefits of the free trade agreement (FTA), while their companies pay a duty of around $700,000 per year.

Another company stated that the local cost of production is unbearable due to the high cost of raw material i.e. Lead Sulphate at around $2600-2700 per MT.  Korea has its lead due to which the powdered form of PVC Stabilizer is produced abundantly in that country. The current value of Korean PVC Stabilizer is $1500-1600/MT. Shipping cost is higher from Korea to Pakistan than that from Turkey to Pakistan.

The liquid form of PVC Stabilizer, like the powdered form, has a different manufacturing process from the flake form. It is costly and used in shoes. In addition to these proposals, 90-day clearance data has also been retrieved and the same has been scrutinized.

The available data/information collected such as sales contracts, proforma invoices, and Export GDs of the stakeholders was thoroughly scrutinized and freight value at the time of the previous ruling and prevailing freight values have been examined which are drastically reduced, the directorate added.

The directorate has issued new customs values on the import of PVC Stabilizer in all forms (i.e. flakes; powder; beads) other than liquid form.

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