Tuesday, June 18, 2024

Govt Eyes Higher Taxes on Imported Phones in Upcoming Budget

The federal budget for the next financial year 2024-25 is likely to see an increase in taxes on imported mobile phones.

According to media reports, a federal excise duty (FED) on imported mobile phones is being proposed, with gross assessment underway. Additionally, there is a suggestion to raise the Pakistan Telecommunication Authority (PTA) tax on luxury imported mobile phones. Currently, the General Sales Tax (GST) on imported mobile phones is up to 25 percent, and the upcoming Finance Bill proposes further increases in this GST, despite the existing high rate.

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The reports indicate that these measures are part of new revenue-raising efforts, with a target of Rs2,000 billion in new revenue, marking a historic first for Pakistan.

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7 days ago

Increase taxes not only on imported luxury cell phones but also on kits for assembling.

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