The Federal Board of Revenue (FBR) is in the midst of reducing regulatory duty (RD) on imported mobile phones by up to 50%.
A summary has been shared with the Ministry of Finance in this regard. It shares that this move will help in providing relief to the common man.
According to the FBR, a reduction in duty will encourage Pakistanis to import more sets in Pakistan.
The summary reads:
This reduction in duty/tax is expected to increase import volume of mobiles in Pakistan.
Earlier, the government had reduced duties and taxes on mobile phones in the last budget. Handsets falling between $100-200 in value will get up to 50% in duty. The current RD rate of Rs. 2,430 has been proposed to be reduced by more than half to Rs. 1200.
Similarly, for phones set at the value of $201-350 will be slashed by Rs. 740 and sets between $351-500 will see Rs. 4500 decrease.
(C&F Value in USD)
|Existing RD (Rs)||Proposed RD (Rs)|
|Up to $30||165||165|
|Above $30 to $100||1620||1000|
|Above $100 to $200||2430||1200|
|Above $200 to $350||3240||2500|
|Above $350 to $500||9450||5000|
The FBR has also proposed to reduce the duty on imported used clothes and polyester fiber in the summary.
Stay tuned to Brandsynario for more news and updates.