Commercial importers of new mobile phones will not be able to avail of any exemption under the new valuation ruling.
FBR has reduced the taxes imposed on mobile phones for foreigners.
According to the website ProPakistani, commercial importers of new mobile phones will not be able to avail any exemption under the new valuation ruling. In contrast, incoming international travelers, especially overseas Pakistanis, can now buy used/refurbished mobile phones. But will benefit from a tax reduction of up to 60%.
The new Valuation Ruling No. 1834 of 2023 of the Directorate of Valuation Karachi has provided convenience to overseas Pakistanis. However, commercial importers engaged in importing new mobile phones will have to pay duties and taxes on relatively high customs values.
The new decree includes several new models for determining duties and taxes. The government has not provided facilities to commercial importers, while overseas Pakistanis will get some relief. Under the new decree, used goods imported by travelers Used/refurbished mobile phones will also be assessed at custom values.
According to sources, overseas Pakistanis will benefit from this decision due to the increase in prices. Tax reduction has been increased to 60% on phones brought by incoming international travelers for up to five years. However, commercial importers will not get any relief from the new decision.
Newer models of mobile phones will be imported at a higher price than less old phones. Under the policy, the margin of under-invoicing in existing and new models of branded mobile phones will be reduced.