- Pakistan Customs issued a new valuation ruling for lithium-ion batteries
- Aim is to prevent under-invoicing and ensure fair taxation
- Initiated due to complaints of under-invoicing from industry stakeholders
- Thorough analysis of import data and global market trends conducted
- Valuation methods outlined in Customs Act, 1969 were followed
- Customs values for different categories of lithium-ion batteries determined
- Ruling does not apply to batteries for mobile phones, laptops, tablets, etc.
- Importers declaring higher value will be assessed at the higher value
- Air freight costs will be considered for air shipments in valuation assessment
- All collectorates instructed to implement ruling and report any anomalies to Directorate of Valuation
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
