When goods are imported into the Pakistan they are subject to a specific rate of duty (tax on imported goods). Tariff classification of goods governs the rate of duty upon their entry into the Pakistan. Properly classifying a product requires an understanding of the Harmonized Tariff Schedule, which has been adopted by over 120 countries of the world. To attain knowledge of the HTS the firm analyzes Customs rulings and practices, as well as federal court decisions to obtain optimal classification and strategic import planning.
When goods are imported into the Pakistan they must be valued correctly. It is the value of the goods to which Customs takes a percentage as duty. The “dutiable value” is a calculation based on the price actually paid or payable for the goods when sold for export to the Pakistan. Improper valuation of goods affects the duty liability. If the value of the goods is in excess of its proper value, the importer will pay a greater amount than necessary. Conversely, under declaring the value of goods may result in costly penalties. Our firm assists importers in appraising the value of goods as well as preparing and submitting binding rulings to Customs for calculating the correct value of goods.
Duty Reduction or Exemption
Pakistan offers a number of trade programs that provide for duty reduction or duty exemption when goods originate from certain countries.. We provide clients with the analysis as to whether a product qualifies for a particular program.
Fines and Penalties
Pakistan customs assesses fines and penalties against importers or exporters who violate the Pakistan laws. Typically, penalties are assessed because of issues regarding classification, valuation, or country of origin compliance. As a result, Customs records these violations in its database leading to a higher likelihood of Customs inspections and importing delays. In addition, Customs may assess liquidated damages if the required import procedures are not followed properly, or if goods are not redelivered to Customs after their release. The firm works to substantially mitigate penalties assessed by Customs through the administrative adjudicative process.
Anti-dumping and Countervailing Duties
Anti-dumping and Countervailing duties laws are two trade remedies that provide relief to domestic industries as protection against foreign imports. Anti-dumping duties are imposed when exports of goods to the Pakistan are sold at prices significantly lower than the country of origin or comparable third country markets. Countervailing duties are imposed when goods from the exporting country are granted significant subsidies by the exporting country. This Firm assists clients in filing petitions in Commission to seek relief.