Written by Hamza Shahnawaz in IT & Telecom, Taxation New customs valuation ruling updates import values for around 70 mobile phone accessories to reflect prevailing international market prices. ISLAMABAD: Pakistan Customs has revised the customs values of imported mobile phone accessories after more than two years, updating the benchmark values used to calculate import duties and taxes in line with prevailing international market prices. The Directorate General of Customs Valuation issued Valuation Ruling No. 2015/2026, introducing revised customs values for around 70 categories of mobile phone accessories. The new ruling replaces Valuation Ruling No. 1887/2024, which was issued on May 31, 2024. Revision based on changing global prices According to the Directorate General of Customs Valuation, international prices of mobile phone accessories have changed considerably since the previous valuation was issued, making it necessary to reassess customs values. The Directorate undertook a fresh valuation exercise under Section 25A of the Customs Act, 1969, to ensure that customs assessments accurately reflect current market conditions and maintain consistency in import valuation. Stakeholders participated in valuation exercise The Directorate said a valuation meeting was held with importers and other industry stakeholders before finalising the revised values. Participants were invited to present their views and submit documentary evidence supporting their claims regarding prevailing international prices. As part of the review, officials analysed import data covering the previous 90 days and examined information provided by stakeholders. Market enquiries were also conducted under Section 25(7) of the Customs Act, 1969, together with the procedures laid down in Office Order No. 17/2014 dated March 19, 2014. Updated values to determine import duties The revised valuation ruling prescribes…