News

Import of used computers and laptops will now face increased taxes

In recent news, the Directorate General of Customs Valuation Karachi has fixed custom values of old and used computers to a much higher side. This even includes system accessories, peripherals and any other add ons that may be included with the computers.

The minimum customs values for all used computers have been fixed for the sole purpose of the assessment of duties and taxes. However, this inevitably hampers the business of the computer industry. Hence, the computer industry strongly opposed this valuation ruling as it would affect the business side of things and further deprive students to pursue education from home. This further creates problems for the working individual as most of the industries now implement the work from home methodology during these unprecedented times.

Furthermore, this badly affects an importer’s business as they utilize these used devices to gain profit and maintain their respective businesses. According to the ruling number of 1519 of the year 2021 issued by the Directorate General, all items and goods which involved variations in values in exporting countries were to be observed.

This even included an exercise that was implemented to determine the customs values of all respective computer devices and their accessories of all origins under section 25-A of the Customs Act, 1969. Moreover, the importers and the stakeholders in the computer industry were requested to submit their proposals with the necessary documents.

In an emergency meeting held on Tuesday, Munawar Iqbal, former senior vice chairman Islamabad Chamber of Commerce & Industry and former executive member of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) expressed his concern over the high valuation on the import of used computers. This increase was nearly up to 40 percent which was imposed by the valuation department without even consulting the IT importers and stakeholders.

The meeting concluded with a demand to the higher authorities of the government and the Prime Minister to intervene in the matter and immediately withdraw the new valuation ruling on the used computers to enable the further acceleration of the industry in the new digital ecosystem and allow students to pursue their online education without any issues. This would also create a lot of ease for the stakeholders in the IT industry.

Sponsored
Usman Aslam

A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Usman has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years including many notable names such as IEEE Region 10, TEDx, Google Developers, United Nations Programmes, Microsoft Partner Program and much more. Reach out: usman.aslam@techjuice.pk

Leave a Comment
Share
Published by
Usman Aslam

Recent Posts

Indian Army Granted Authority to Directly Takedown Social Media Content

The Indian Army has been granted direct authority to manage social media content concerning its…

4 hours ago

NUST Achieves Global Recognition with 43 Researchers Among World’s Top 2% Scientists

In an extraordinary accomplishment for Pakistani academia, 43 researchers from the National University of Sciences…

5 hours ago

Khyber Pakhtunkhwa Govt Ready to Acquire PIA with Bid Exceeding Rs10bn

The Khyber Pakhtunkhwa (KP) government has officially informed the federal government of its intention to…

6 hours ago

PTA Cautions Public on Illegal and Unlicensed Forex Trading Platforms

The Pakistan Telecommunication Authority (PTA) has issued a stern advisory, warning citizens against investing in…

6 hours ago

Record Emigration: Economic Instability Forces Pakistan’s Best and Brightest to Depart

Economic challenges are prompting skilled workers to leave Pakistan, resulting in a significant talent drain…

9 hours ago

Russia’s Fine on Google Exceeds World’s Economy

A Russian court has fined Google for blocking state-run media channels on YouTube, imposing a…

1 day ago