Finance minister Asad Umar presented the new money bill in the national assembly yesterday. The PTI government has increased taxes on the expensive mobile phones imported into the country. Presenting the Finance Supplementary (Second Amendment) Bill, 2019 approved by the Federal Cabinet earlier today, Asad Umar said it was not a mini-budget but rather a set of economic reforms.
According to the document, Cellular mobile phones or satellite phones to be charged on the basis of import value per set, or equivalent value in rupees in case of supply by the manufacturer.
Here is the detail of value of mobile phone and tax on it
Mobile Phone not exceeding $30 (Rs 4200) = Tax Rs 150
Mobile Phone exceeding $ 30 (4200) but not exceeding $ 100 (Rs 14000) = Tax Rs 1,470
Mobile phones exceeding $100(Rs 14000) but not exceeding $200 (28000) = Tax Rs 1870
Exceeding $ 200 (Rs 28000) but not exceeding $ 350 (Rs 50,000) = Tax Rs 1,930
Exceeding $ 350 (Rs 50,000) but not exceeding US$ 500 (Rs 70,000) = Tax Rs6, 000
Exceeding $ 500(more than Rs 70,000) = Tax 10,300
Meanwhile, Federal Board of Revenue Combine Tax will be applicable on imported mobile phones. The FBR provided further break down of taxes on mobile phones.
According to details, Rs 400 tax will be applicable on mobile phones worth Rs10,000; Rs4000 tax on phones of price Rs28,000; Rs6000 tax on phone worth Rs60,000; Rs8000 tax on phone worth Rs105,000 and Rs23000 tax on the phones worth Rs150,000 while Rs41,000 tax on the phones worth more than Rs150,000.
Your email address will not be published. Required fields are marked *
17 November, 2019