{"id":39084,"date":"2024-06-09T22:37:18","date_gmt":"2024-06-09T17:37:18","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=39084"},"modified":"2024-06-09T22:37:36","modified_gmt":"2024-06-09T17:37:36","slug":"govt-likely-to-increase-taxes-on-commercial-import-of-mobile-phones-details-inside","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/govt-likely-to-increase-taxes-on-commercial-import-of-mobile-phones-details-inside\/","title":{"rendered":"Govt likely to increase taxes on commercial import of mobile phones; Details inside"},"content":{"rendered":"<p>ISLAMABAD: The government is expected to increase duties and taxes on commercial imports of mobile phones in the upcoming 2024-25 budget.<\/p>\n<p>As per the media reports, the government plans to differentiate between imported and locally manufactured mobile phones to promote local production. There is also a possibility that the sales tax zero rating for packaging of mobile phones may be removed under the proposed changes in the <a href=\"https:\/\/dailyausaf.com\/en\/business\/pta-announces-additional-fee-per-mobile-phone-being-manufactured-in-pakistan\/\">Mobile Device Manufacturing Policy<\/a>.<\/p>\n<p>Currently, sales tax is applicable on CBUs (Completely Built Units) at the time of import or registration of International Mobile Equipment Identity (IMEI Number by CMOs).<\/p>\n<p>This also applies to imports in CKD\/SKD (Completely Knocked Down\/Semi Knocked Down) condition and supply of locally manufactured mobile phones in CBU condition.<\/p>\n<p>The<a href=\"https:\/\/dailyausaf.com\/en\/business\/federal-govt-surpasses-petroleum-levy-tax-collection-target\/\"> Federal Board of Revenue<\/a> (FBR) has received a budget proposal from the Overseas Investors Chamber of Commerce and Industry (OICCI) urging the government to scrap the advance tax rate on telecom customers. has been given.<\/p>\n<p>OICCI argues that most telecom users fall below the taxable income threshold, and the tax is a barrier to affordability of mobile services. In its tax proposals for Budget 2024-25, the OICCI also recommended improving the withholding tax system to make tax claims and verification more transparent and less burdensome.<\/p>\n<p>The chamber noted that the advance tax on telecom services has been reduced from 12.5 percent to 10 percent for FY 2021 and further to 8 percent for subsequent years through the Finance Act, 2021. However, the Finance (Supplementary) Act, 2021 increased the rate of withholding tax from 10 percent to 15 percent.<\/p>\n<p>This increase hampers the affordability of mobile services, which are critical for the entire population, especially since more than 70 percent of Pakistan&#8217;s population lives below the poverty line. Telecom services are also important for the economic development of the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The government is expected to increase duties and taxes on commercial imports of mobile phones in the upcoming 2024-25 budget. As per the media reports, the government plans to differentiate between imported and locally manufactured mobile phones to promote local production. There is also a possibility that the sales tax zero rating for packaging [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":30484,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[567,773,7730,131,18347],"class_list":["post-39084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-federal-board-of-revenue","tag-mobile-device-manufacturing-policy","tag-oicci","tag-fbr","tag-tax-on-mobiles"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/39084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=39084"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/39084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/30484"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=39084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=39084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=39084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}