Islamabad: The Federal Revenue Council (FBR) reviewed the customs values to import lead acid batteries used in vehicles, phone exchanges, solar banks, UPS systems and public purposes, sources from countries including China, Vietnam, Korea, Thailand, Malaysia, Sri Lanka and Taiwan.
According to the judgment of the evaluation issued by the General Directorate of Customs Evaluation on Thursday, the values of these goods have not been updated since 2017. In light of the current market trends and import and contrast data between market prices and previous customs values, the Directorate was subjected to a review process under Article 25 and 25 A of the Customs Law, 1969.
A meeting was held to determine the new customs values on March 17, 2025, where stakeholders were invited to present their views and submit relevant import documents. Over a period of 90 days, a detailed analysis of imported goods has been performed, and after considering profit margins, the final customs values were identified.
FBR now determines the updated customs values of these batteries, which will be applied in assessing duties and taxes on future imports.
