Pakistan Slashes Duties on Used iPhones, Smartphones to Boost Affordability Amid Economic Crisis

• Pakistan has reduced duties and revised assessment rates on used smartphones, including iPhones, to make them more affordable for citizens facing economic hardship.
• The Customs Valuation Department set new assessment values for high-end smartphones like iPhone 14 and 15 series, aligning with falling global prices for older models.
• The revision aims to reflect real-world market prices and lower the tax burden, potentially reducing retail costs for 62 different handsets across four major brands.
• Used iPhone valuations saw significant drops (32-81%), with iPhone 12 Pro falling from $280 to $155 and iPhone 13 Pro Max from $430 to $295.
• New inaugural values were also established for the iPhone 15 series, with the Pro Max set at $460 and the base model at $310.

Why It Matters: Pakistan has made used smartphones, especially iPhones, cheaper by cutting duties to help citizens amid economic woes.