Due to a revision in the customs value of the phones, the Federal Board of Revenue’s Directorate General of Customs Valuation has lowered taxes on reconditioned or used mobile phones for Pakistanis living abroad who are returning home.
In place of the prior valuation, which was granted nine months ago, the directorate has issued the Valuation Ruling No. 1834/2023. The value of mobile phones has been recalculated under Section 25-A of the Customs Act of 1969.
According to the official paper, several markets were examined to see the real costs of mobile phones.
Also Read: Mobile Phone Prices Increases Due To FBR’s New Valuations
Under sub-Section (7) of Section 25′ of the Customs Act, 1969, the values of the relevant products have been established based on the data/information that has been gathered and the exercise that has been carried out.
Pakistanis living abroad will be eligible for up to 60% depreciation on reconditioned or old mobile phones under the new valuation.
Used or refurbished cell phones that are imported by “bonafide passengers” will likewise be evaluated based on the customs values provided, since the aforementioned tabulated values include an allowance for depreciation
According to the directorate, importers of mobile phones are not taken into consideration by the updated customs valuation.
