New Taxes on Mobile Phones by FBR

Web DeskDecember 19, 2023
New Taxes on Mobile Phones by FBR

The Directorate of Customs has recently implemented an updated regulation, Valuation Ruling No. 1834/2023, supplanting its predecessor issued nine months ago. This newly introduced ruling is specifically tailored for the assessment of mobile phone values, operating under the provisions of Section 25-A of the Customs Act, 1969.

Outlined within the official documentation is a comprehensive evaluation conducted across diverse markets, aiming to ascertain precise prices for mobile devices. Based on data acquired during this rigorous assessment, the values of these goods have been re-evaluated utilizing provisions from sub-Section (7) of Section 25 of the Customs Act, 1969.

One of the significant amendments in this updated valuation ruling is the introduction of a 60 percent depreciation allowance specifically for used or refurbished mobile phones, particularly beneficial for overseas Pakistanis. This allowance acknowledges a decreased value of these phones by 60 percent, subsequently impacting customs duties levied on such imports.

Read more:FBR Initiates Pursuit of Non-Filer Government Officials, Bankers, and Bureaucrats

Furthermore, a notable change entails the determination of customs values for used or refurbished mobile phones brought in by “bonafide passengers.” These values will now be established using pre-set criteria that consider depreciation, ensuring a fair assessment.

However, it’s imperative to clarify that these revised customs valuation regulations do not extend to mobile phone importers, as per the clarification provided by the directorate. These alterations predominantly cater to individual users or “bonafide passengers” importing used or refurbished mobile phones, offering specific allowances for depreciation in customs assessments.

This updated regulation signals a targeted approach by the Directorate of Customs in addressing valuation concerns related to imported mobile phones, aiming to provide clearer guidelines and allowances for specific categories of importers within Pakistan.

Share This Post

News Guru

WEb logo-04 (1)

We strive to bring you the most comprehensive and up-to-date news from reliable sources. Our team of experienced journalists and writers are committed to delivering unbiased and factual news, with the highest levels of professionalism and integrity.

News Guru, 2024 © All Rights Reserved