Tuesday, October 4, 2022

The govt is increasing taxes on graphics cards, bad news for gamers

As a result of the recent drop in the price of bitcoin and the subsequent drop in demand for graphics cards, the worldwide shortage of GPUs is reduce. With the upcoming release of new graphics cards, many Nvidia and AMD GPUs are now available at or below their original suggested retail prices (MSRP).

Even though the market has stabilized, graphics cards in Pakistan continue to sell for a lot of money and are likely to keep doing so. This is because Pakistan Customs and the government recently put new taxes and fees on the import of video card components.

Pakistan Customs did lack any official rules for valuing or assessing GPUs in the past. However, this has changed, and GPUs are now subject to high taxes. Using this new tariff schedule, the customs fees for graphics cards will be as follows. How much VRAM a GPU has an effect on this.

4GB = $65
6GB = $98
8GB = $198
10GB = $262
12GB = $382

16GB = $468
24GB = $542

Formulas for taxing

Duties are likely by first increasing the entire economic cost of the card by 36 percent and also again converting that result back into U.S. dollars at the going exchange rate. For example, if you want to spend $94.32 on an Nvidia RTX 3080. You would multiply the list price of $262 by 36%, which is $10. By multiplying the formula by the current value of the US dollar. You can get the amount in Pakistani Rupees ($94.32 x 215 = Rs. 20,278).

Read more: TPL Trakker Provides High Satellite Photos in Pakistan

Also, it’s said that Pakistan Customs has seized as many as 700 RTX graphics cards. They are mostly sitting in their warehouses for almost 60 days. The government has also fined some local distributors as much as $4 million.

To sum up, the price of graphics cards in Pakistan is expected to keep going up, and the situation is not expected to get better any time soon.

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