The Federal Board of Revenue (FBR) on Friday passed rules on the tax-free minimum value of goods imported by courier and mail.
The FBR has issued SRO 886 (I) / 2020 to report the 2001 draft change to the Customs Regulation. With the draft change, the FBR has enacted the “de minimis rules for imported goods”, which only apply to goods imported by mail and air handling.
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"The Minimis Value" means the value of goods up to Rs 5,000 for the purposes of Section 19C of the Customs Act 1969.
The FBR stated that for the purposes of the provisions of section 19C of the Customs Act 1969, the value stated on the mailing label or courier charge is considered the declared value.
In addition, the postal or courier authority uses the previous day's official exchange rate to convert the invoice value to Pakistani rupees. The postal or courier authorities will provide a separate list of goods along with any invoices and other documents whose declared value is up to Rs 5,000.
Customs authorities review the list and have the right to inspect or detain goods to verify the declared value or compliance with the requirements of other applicable legislation.
The postal or courier authorities shall provide the customs authorities concerned with a consolidated monthly electronic declaration of all these releases, as well as copies of the invoice for the imported goods released in accordance with the rules for reconciling the records.
