The regulatory body has implemented a fresh directive, Valuation Ruling No. 1834/2023, to supplant a preceding regulation issued nine months earlier. This directive focuses specifically on the assessment of the value of mobile phones per Section 25-A of the Customs Act, 1969.
The official document outlines a comprehensive process that involves a meticulous examination of various markets to determine the actual prices of mobile phone devices. The values of these goods have been reassessed based on data collected during this exercise, utilizing the provisions of sub-Section (7) of Section 25 of the Customs Act, 1969.
A significant change in the new valuation is the provision for overseas Pakistanis to benefit from a depreciation of up to 60 percent on used or refurbished mobile phones. This 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.
Furthermore, customs values for used or refurbished mobile phones imported by ‘bonafide passengers’ will be evaluated based on tabulated values that include depreciation allowances.
It’s essential to clarify that the revised customs valuation does not extend its provisions to accommodate importers of mobile phones, as specified by the directorate. Therefore, the changes primarily apply to individual users or ‘bonafide passengers’ importing used or refurbished mobile phones, granting them specific allowances for depreciation in customs assessments.”