ISLAMABAD: The Federal Board of Revenue (FBR) has revised the customs values for the import of lead acid batteries used in vehicles, telephone exchanges, solar banks, UPS systems, and for general purposes, sourced from countries including China, Vietnam, Korea, Thailand, Malaysia, Sri Lanka, and Taiwan.
According to a valuation ruling issued by the Directorate General of Customs Valuation Karachi on Thursday, the values for these goods had not been updated since 2017. In light of current market trends, import data, and the discrepancy between market prices and previous customs values, the Directorate undertook a revision process under Section 25 and 25A of the Customs Act, 1969.
A meeting to determine the new customs values was held on March 17, 2025, where stakeholders were invited to present their views and provide relevant import documents. Over a period of 90 days, detailed analysis was conducted on the imported goods, and after considering profit margins, the final customs values were determined.
The FBR now specifies the updated customs values for these batteries, which will be applied in the assessment of duties and taxes for future imports.
