The Federal Board of Revenue (FBR) has revised the customs/export value of all types of mangoes for all destinations. In this regard, the Directorate of Valuation Lahore issued a valuing ruling following the directive of the FBR.
The new export (FOB) value of all types of fresh mangoes has been fixed at $800 per metric ton; mango pulp, $1000 per metric ton and export value of dry mangoes has been set at $1500 per metric ton.
According to the new ruling, the FBR’s letter, read with Ministry of Commerce letter directed the Directorate of Valuation, Lahore to determine export value of mangoes.
Consequently, an exercise was initiated by the Directorate of Customs Valuation Lahore to determine values of the said item. A meeting was held for participation of major stakeholders including, representatives from All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association and exporters of mangoes.
The issue pertaining to the valuation of the subject goods was deliberated upon in detail in the afore-referred meeting.
Proposals submitted by stakeholders for consideration were thoroughly analyzed. The documents submitted by the stakeholders’ arguments, submitted during the meeting, price trends and exports data from PRAL were examined for determination of customs export value of mangoes.
Valuation provisions under section 25 (15) of the Customs Act 1969, export data, market survey were followed to determine export value that included export data market trends, international market trends and documents submitted by stakeholders, the ruling added.
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