The Federal Board of Revenue (FBR) on Saturday reduced customs valuation rates on imported USB flash drives, data travellers, and memory cards, lowering the tax burden at the import stage.
As per the notification, the tax will be applied during import for the assessment of customs duty and taxes. The FBR aims at aligning valuations with prevailing international market prices and providing relief to consumers.
What is import tax on USBs, memory cards, and flash drives?
Under the new valuation, customs duty on 16GB USB flash drives imported from China will be calculated at $0.78 (around Rs216), while imports from other countries will be assessed at $1 (around Rs277).
For 32GB USBs, the customs value has been set at $0.87 (around Rs241) for Chinese imports and $1.13 (around Rs313) for imports from other countries. Similarly, 64GB USBs will be assessed at $1.17 (around Rs324) for Chinese products and $1.52 (around Rs422) for those imported from elsewhere.
The customs value for 128GB USB drives has been set at $2.60 (around Rs721) for Chinese imports and $3.38 (around Rs938) for other countries, while 256GB USBs will be assessed at $2.99 (around Rs830) and $3.88 (around Rs1,077), respectively.
For higher-capacity devices, customs duty on 512GB USB drives has been set at $3.99 (around Rs1,107) for Chinese imports and $5.18 (around Rs1,438) for other countries.
FBR has issued a formal notification to implement the import tax for USBs, flash drives, and memory cards.