Price Value Certificate

Price Value Certificate (PVC)The tax rigging, import tax fraud and excise duty frauds by importers in many countries is a serious global issue and is increasing rapidly. The Governments and the Excise Departments lose Billion of Dollars every year due to Customs, Excise, VAT, and import tax fraud. The study result shows, in most cases both importer and exporter join hands to commit import tax fraud by mutual understanding. The exporters issue dummy invoices by accepting importer’s request to steal import tax and excise duty by hiding actual price of item/goods. Some cases are also reported where importers force the exporter by threating to issue dummy invoice also called under-invoicing, otherwise importer will cancel the order.

Import duty fraud or customs fraud is common where importers lie about the amount of import duties owed on goods being imported to their respected countries. So far, customs fraud has been hiding under the radar because the governments or Customs and Excise Departments are unable to detect those cheating on paying import duties on products or goods imported in the country. To avoid paying the amount of import duties owed, some companies cheat by misclassify the products being imported. In other words they lie about the type of product being imported and claim it is a similar product that is valued less on the schedule. A similar fraud scheme is undervaluing the product, by claiming that they are worth less than the true value.

The Japan Inspection Organization (JIO) issue “Price Value Certificate” also called as “PVC” for all goods exported or schedule to export from Japan. The experts at this Organization physically inspect the merchandise prior to export and calculate current price value of goods. The Japan Inspection Organization (JIO) offer PVC Certificate free of charge to all Government agencies, Customs and Excise Departments for Vehicles, Heavy Machinery, Agriculture Machinery, Equipments, Instruments, Electronic Components, Vessels, Helicopter, Aircraft and/or any product schedule to import from Japan.

However this service is strictly for Customs & Excise Departments and Government Agencies only. Private companies and individuals are not eligible to apply for “Price Value Certificate”.

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