Islamabad, Dec 5: The Federal Board of Revenue (FBR) has updated the customs/export value for seasonal fruits, including Kino, for the period from December 1, 2024, to May 15, 2025.
This revision comes at a time when exporters of seasonal fruits are facing significant delays in refund processing. Starting this winter season, exporters of Kino will be required to pay taxes based on new export values in US dollars.
The Directorate General of Customs Valuation Karachi issued a new valuation ruling (4 of 2024) on Thursday, setting the Export (freight on board) FOB value for Mandarins (including tangerines and satsumas) and Kino at US$ 410 per metric ton (MT). For exports to Afghanistan, the value is set at US$ 310 per metric ton.
The ruling specifies that the customs export value of Kino will serve as the Minimum Export Price for the specified period.
The determination of these values followed a thorough process, with the FBR and Ministry of Commerce directing the Directorate of Valuation Lahore to establish the export value of certain commodities.
Several meetings with key stakeholders, including representatives from the Trade Development Authority (TDAP), Federation of Pakistan Chambers of Commerce & Industry, and the All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association (PFVA), were held. Proposals and documents from stakeholders, along with export data and market trends, were considered to finalize the new export values under the provisions of the Customs Act, 1969.
