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ISLAMABAD: The depreciation on the used/ refurbished mobile phones brought into Pakistan by the overseas Pakistanis has been increased from 30 percent to 60 percent for assessment of duties and taxes.

On the other hand, the commercial importers engaged in import of new mobile phones would have to pay duties and taxes on comparatively higher customs values. Thus, the incoming international passengers have been given major relief in depreciation rates while bringing mobile phones into Pakistan.

Explaining the rationale behind the new valuation ruling number 1834 of 2023 on the mobile phone, sources said that the overseas Pakistani would get maximum benefit from the said ruling due to increase in the depreciation rates. The depreciation has been increased up to 60 percent on the phones up to five years old brought by the incoming international passengers.

Branded mobile phones: Customs’ values on import of 1,160 models revised

The progressive taxation policy has been adopted on the import of mobile phones by facilitating those bringing old phones for personal use. However, the commercial importers would not enjoy any relief from the new ruling.

The new models of the mobile phones would be imported at higher values as compared to less old phones. Under the policy, the margin of under-invoicing would be decreased in the existing and new models of the branded mobile phones.

The Federal Tax Ombudsman (FTO) had directed the FBR that the appropriate depreciated value of used mobile phones based on physical condition and model should be applied in order to prevent unwarranted overcharging. The FBR should also ensure to apply consistent and uniform valuation methods, giving due consideration to the declared value unless there is a clear evidence of mis-declaration, FTO order added.

Under the new ruling, the used/ refurbished mobile phones imported by bonafide passengers shall also be assessed on the customs values given as allowance for their depreciation is also incorporated in the said tabulated values.

For assessment of brands and models which are imported in commercial quantity but are not included in the enclosed annexure, the clearance Collectorates are advised to assess those under Section 81 of Customs Act, 1969 and then forward a reference to the Directorate for final determination of values thereof, the ruling added.

Copyright Business Recorder, 2023

Comments

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Hilarious Dec 18, 2023 08:16am
I don’t get this policy of under invoicing with the blessing of the state, like does the government want people to launder money? Anything imported has a local tariff that is leaps lower than the actual value of transaction, how is the difference of funds supposed to be remitted? Laundering? So on the one hand the government wants people to stop laundering money and on the other, they give a legal umbrella to under invoicing? The curse of ITP only exists in Pakistan, rational countries use the value of transaction,
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Cool boy Dec 18, 2023 09:39am
Land of pure will surely end up in stone age
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M.KHALID Dec 18, 2023 10:33am
car imports or mobile phone imports scheme for overseas Pakistanis are nothing but a loop hole to allow the smuggling for these items in to Pakistan. are such scheme allowed in India or any other country ? we donot want to support local industry , we want to support Mafia of Smugglers, Khepias.
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Twain pen di Dec 18, 2023 11:16am
thankyou for this stupid policy, the rates are still higher than the value of the phone. commonsense is not so common in Pakistani institutions.
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