In a recent development, the Directorate General of Customs Valuation has undertaken a significant revision of customs values for various used and refurbished mobile phones, with a specific emphasis on Apple iPhone 14 Plus models.
This initiative is part of an ongoing effort to synchronize customs values with the real market prices of mobile devices within the country. Notably, these valuations are not applicable to import quantities of phones.
Revised Customs Values
After a comprehensive analysis of diverse markets, the Directorate General of Customs Valuation has announced substantial reductions in 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 experienced a noteworthy decrease from $910 to $774.
Similarly, the Customs value for the 256 GB variant has been adjusted to $859 from the previous $1,010. Furthermore, the Customs value for the high-capacity 512GB model has been lowered to $1,029 from $1,210.
This decision to revise customs values stems from a meticulous examination of various markets to ensure a more precise reflection of the prevailing prices of mobile phone devices in the country. The objective is to benefit consumers by aligning customs values with current market dynamics.
Impact on Duty and Taxes
The Directorate has clarified that mobile phones listed officially will now undergo assessment for duty and taxes based on the revised customs values. This adjustment will directly influence the overall taxation structure related to the import of these mobile devices.
In a positive development for legitimate passengers importing used or refurbished mobile phones, the customs values will now incorporate depreciation allowances. This move aims to provide relief to individual travelers, ensuring a fair assessment of duties and taxes based on the actual condition and value of the devices.
