The directorate has issued a new regulation, known as Valuation Ruling No. 1834/2023, which replaces a previous regulation that was issued nine months ago.
This ruling specifically pertains to the assessment of the value of mobile phones and is carried out under Section 25-A of the Customs Act, 1969.
According to the official document, the process involved a thorough examination of various markets to ascertain the actual prices of mobile phone devices.
The values of these goods have been re-determined based on the data and information collected during this exercise, utilizing the provisions of sub-Section (7) of Section 25 of the Customs Act, 1969.
The noteworthy change introduced in the new valuation is that overseas Pakistanis can now avail a depreciation of up to 60 percent on used or refurbished mobile phones.
This essentially means that when calculating customs duties for such phones, their value will be considered to have decreased by 60 percent due to their used or refurbished condition.
Moreover, the customs values for used or refurbished mobile phones imported by “bonafide passengers” will be assessed based on tabulated values that include allowances for depreciation.
It’s important to note that the revised customs valuation does not extend its provisions to accommodate importers of mobile phones, as clarified by the directorate.
This implies that the changes in valuation primarily apply to individual users or “bonafide passengers” importing used or refurbished mobile phones, providing them with specific allowances for depreciation in customs assessments.
