Finance Minister Asad Umar on Wednesday offered mini-budget within the Nationwide Meeting jacking up tax on import of high-end consumer cell phone units.
Presenting the Finance Supplementary (Second Modification) Invoice, 2019 authorized by the Federal Cupboard earlier right this moment, Asad Umar mentioned it was not a mini-budget however slightly a set of financial reforms.
In accordance with the doc, Mobile cell phones or satellite tv for pc telephones to be charged on the premise of import worth per set, or equal worth in rupees in case of provide by the producer.
Cellular Worth and Tax in Rupees
Cellular Telephone not exceeding $30 (Rs.150)
Cellular Telephone exceeding $ 30 however not exceeding $ 100 (Rs. 1,470)
Cellphones exceeding $100 however not exceeding $200 (Rs. 1,870)
Exceeding $ 200 however not exceeding uS$ 350 (Rs. 1,930)
Exceeding $ 350 however not exceeding US$ 500 (Rs.6,000)
Exceeding $ 500 (Rs. 10,300)
In the meantime, Federal Board of Income Mix Tax will likely be relevant on imported cell phones.
Member coverage FBR whereas briefing in Islamabad gave particulars of the imported mobile telephones.
In accordance with particulars, Rs 400 tax will likely be relevant on cell phones value Rs10,000; Rs4000 tax on telephones of worth Rs28,000; Rs6000 tax on telephone value Rs60,000; Rs8000 tax on telephone value Rs105,000 and Rs23000 tax on the telephones value Rs150,000 whereas Rs41,000 tax on the telephones value greater than Rs150,000.