Written by Hamza Shahnawaz in Taxation Valuation Ruling 2129/2026 fixes minimum import values at $2.05 per kg for China and South Korea and $2.47 for other origins. KARACHI: The Federal Board of Revenue (FBR) has issued Pakistan’s first-ever customs valuation ruling for imported sublimation paper, fixing minimum import values under Valuation Ruling No. 2129/2026, dated November 10, 2026. The Directorate General of Customs Valuation issued the ruling under Section 25A of the Customs Act, 1969, to ensure uniform assessment of duties and taxes at customs stations across the country. Previously, customs values for sublimation paper had not been determined under Section 25A. However, an examination of import records revealed significant import volumes and substantial variations in declared and assessed values, prompting the Directorate to initiate a formal valuation exercise. A stakeholder meeting was held on October 15, 2026, to obtain industry feedback and supporting documents. As no formal submissions were received, the Directorate examined representative commercial import data, excluding unusual entries, and determined the values under Sections 25(9) and 25(6)…