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of <h1>New Customs Rules 2023 Target Undervaluation, Set Extra Duties for Importers of Specific Goods.</h1> The Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 (CAVR, 2023) aim to address undervaluation in imports by specifying additional obligations for importers of certain goods. These rules, effective from February 11, 2023, outline procedures for importers to declare accurate values and fulfill additional requirements if flagged by the Customs Automated System. If doubts persist regarding declared values, further proceedings will follow the Customs Valuation Rules, 2007. The rules guide both the Board and importers in ensuring truthful value declarations, with electronic applications under development for streamlined processes.
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