Government decreases smartphone tax
The government decreases smartphone tax! The government has reduced Rs 1150 the tax on smartphones worth less than Rs 15,000.
According to the Federal Board of Revenue (FBR), the tax on import of smartphones has been substantially reduced as per the Digital Pakistan measures, a statement issued by the Federal Board of Revenue has stated that the government has reduced sales tax and income tax rate of Rs 1150 on imports of smartphones worth 15,000 or less.
The FBR says the government is aware that conditions for the local manufacturer should also be favorable in the market. The government encourages local production of smartphones, and a committee constituted under the supervision of Advisory Trade, Textiles, Industries and Investment.
According to the FBR, the duty on mobile phone sets of up to $ 100 has been reduced from Rs 1350 to 200 per mobile. And the modification of the regulatory duties on the import of phones into customs is in the pipeline, the suggestions will be placed before the Economic Coordinating Committee after consultation with all stakeholders who will make the final decision.