Govt decides imposing levy on mobile phones imports
- By Web Desk -
- Jun 10, 2022
ISLAMABAD: The federal government has decided to impose levy on mobile phone imports in the new budget for the fiscal year 2022-23.
In the Finance Bill, the imposition of new tax slabs on the import of mobile phones from Rs100 to Rs1,6000 was recommended.
It has been suggested to impose a levy of Rs100 on $30 mobile phones, Rs200 on $100 mobile handsets, Rs600 on $200 handsets, Rs1,800 on $350 mobile phones, Rs4,000 on $500 handsets, Rs8,000 on $700 handsets and Rs16,000 on $701 handsets, according to the Finance Bill.
Federal budget 2022-23
The federal budget 2022-23 has a total outlay of 9502 billion rupees has been announced, encompassing measures for what the government termed ‘sustainable economic growth, industrial and agriculture development and relief for the poor people’.
MAJOR POINTS AND ANNOUNCEMENTS
- Remittances target 33.2 billion PKR
- GDP growth target set at 5 per cent
- Inflation to be brought down at 11.5 per cent
- FBR Revenue Target at 7004 billion PKR
- Non-Tax revenue target at 2000 billion
- Import target at USD 70 billion
- Export target at USD 35 Billion
- End of 8 percent withholding tax on distributors, producers
- Advance tax will be increased on cars above 1600cc