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 FBR asks Customs Valuation Department to send data of amended Valuation Rulings

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PostSubject: FBR asks Customs Valuation Department to send data of amended Valuation Rulings   Wed 18 Mar 2015, 7:33 am

KARACHI: Federal Board of Revenue (FBR) has directed to the Directorate General Customs Valuation to send the data of items those Valuation Rulings been re-valued or amended more than once.
Sources said that FBR has asked the list of items with a view to evaluating the method to be adopted to streamline the working of the Valuation Department.
Sources informed staff at the Valuation Department has started to compile the record of last one and a half year.
It is further learnt that the FBR is contemplating to stop the assessment of different items for more than once and in extreme case not more than twice.
The data compilation work is likely to be completed in the next fifteen days after which it would be sent to the FBR for further deliberations.
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