In a recent development, the Directorate General of Customs Valuation has revised the customs values for various used and refurbished mobile phones, with a particular focus on Apple iPhone 14 Plus variants.
The move comes as part of an ongoing effort to align customs values with the actual market prices of mobile devices in the country. It's important to note that these valuations do not apply to import quantities of phones.
Revised custom values
Following a thorough analysis of various markets, the Directorate General of Customs Valuation has announced significant reductions in the Customs values for Apple iPhone 14 Plus models. The Customs value C&F (Cost and Freight) for the Apple iPhone 14 Plus 128 GB variant has seen a notable decrease from $910 to $774.
Similarly, the Customs value for the 256 GB variant has been revised down to $859 from the previous $1,010. Additionally, the Customs value for the high-capacity 512GB model has been reduced to $1,029 from $1,210.
The decision to revise these customs values was made after a meticulous examination of various markets to ensure a more accurate reflection of the prevailing prices of mobile phone devices in the country. The move is expected to benefit consumers by aligning customs values with the current market dynamics.
Impact on duty and taxes
The Directorate has clarified that mobile phones specified in the official list will now be assessed for duty and taxes based on the revised customs values. This adjustment will have a direct impact on the overall taxation structure related to the import of these mobile devices.
In a positive development for bonafide passengers importing used or refurbished mobile phones, the customs values will also incorporate depreciation allowances. This move is aimed at providing relief to individual travelers and ensuring a fair assessment of duties and taxes based on the actual condition and value of the devices.
