Revised Customs Values Announced for Polyester Viscose and Acrylic Yarn by FBR

The Federal Board of Revenue (FBR) has announced revised customs values for Polyester Spun Yarn, Viscose Spun Yarn, Acrylic Spun Yarn, and their blends, following industry requests for updated valuation in line with current international market trends.

Previously, the customs values of these yarn types were determined under Section 25A of the Customs Act, 1969, through Valuation Ruling No. 02 issued on December 29, 2022. However, the Pakistan Yarn Merchants Association (PYMA) and other stakeholders later submitted representations, noting that more than 90 days had passed since the ruling and that the values no longer reflected prevailing global prices.

Importers informed the Directorate that a consensus-based formula for valuing these yarns had been developed earlier in coordination with the Department. However, this formula had become outdated due to a notable decline in the import volumes of several yarn types. They further pointed out that despite repeated follow-ups, no revision to the 2022 customs values had been made until now.

In response, the Directorate undertook a comprehensive review to re-determine values. While the Computed Value Method under Section 25(8) of the Customs Act was considered, it was deemed inapplicable as precise cost-of-production data from exporting countries was unavailable.

Instead, the Directorate analyzed multiple data sources, including international market prices of raw materials such https://sterling.pk/blog/