The Directorate of Customs has recently enforced an updated regulation known as Valuation Ruling No. 1834/2023, replacing its prior version issued nine months earlier. This new ruling is designed specifically for appraising the worth of mobile phones and operates under the provisions outlined in Section 25-A of the Customs Act, 1969.
This official documentation details an extensive evaluation carried out across various markets to ascertain accurate prices for mobile devices. The re-evaluation of these goods’ values is based on data obtained during this thorough assessment, utilizing provisions from sub-Section (7) of Section 25 of the Customs Act, 1969.
A significant amendment in this revised valuation ruling is the introduction of a 60 percent depreciation allowance specifically designated for used or refurbished mobile phones, offering particular advantages to overseas Pakistanis. This allowance recognizes a reduced value of these phones by 60 percent, consequently affecting the customs duties imposed on such imports.
Moreover, an important change involves the method of determining customs values for used or refurbished mobile phones brought in by “bonafide passengers.” These values will now be determined using preset criteria that account for depreciation, ensuring a fair evaluation process.
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However, it is crucial to clarify that these updated customs valuation regulations do not encompass mobile phone importers, as per the clarification provided by the directorate. These modifications primarily cater to individual users or “bonafide passengers” importing used or refurbished mobile phones, providing specific allowances for depreciation in customs assessments.
This updated regulation reflects the Directorate of Customs’ targeted approach in addressing valuation concerns related to imported mobile phones. It aims to offer clearer guidelines and allowances for specific categories of importers within Pakistan.