Customs Value Increase May Raise Prices of Imported Cosmetics

Web DeskOctober 12, 2023
Customs Value Increase May Raise Prices of Imported Cosmetics

The Directorate General of Customs Valuation Karachi has revised customs values for high-end branded color cosmetics from all origins, which could potentially lead to an increase in the cost of imported cosmetics.

The new customs values were established after a thorough evaluation, considering input from various stakeholders and market surveys. Importers argued that some brands’ values in the existing ruling were higher compared to international market prices.

Also Read: FIA Conducts Raid on Customs Inspector’s Residence, Seizes Four Non-Customs Vehicles and Valuable

As a result, the Directorate conducted a market survey and evaluated available data to determine the customs values for color cosmetics. These values will be applied based on the standard packing weight/piece provided in the ruling.

However, multinational companies importing directly from their sister concerns will follow different assessment procedures under the Customs Act, 1969. Gift sets will be assessed based on the PCT of each item.

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