A major review of the duties and taxes structure on the import of mobile phones is underway at the Federal Board of Revenue (FBR), a budget maker told ProPakistani late on Tuesday.
Sources informed that the revenue impact of the proposed relief measure would be negative on the FBR collection in the fiscal year 2023-24 (FY24).
“The tax policy on the import of mobile phones has been totally revised in the coming budget”, a top FBR official said.
The FBR is likely to retain an 18 percent sales tax rate on the import of mobile phones and FBR has also imposed a 25 percent sales tax on the import of luxury items. The sales tax structure and withholding tax would not be touched in the coming budget. However, customs and regulatory duties are proposed to be further reduced on imported mobile phones from July 1, 2023.
From April 1, 2023, a 50 percent regulatory duty (RD) was reduced on the import of mobile phones. The withdrawal of the FBR’s SROs from March 31 has only abolished the component of the increased rates of RDs, but the original notification of the RDs is still intact.
The buyer has to pay withholding tax as well as a fixed mobile levy on the import of mobile phones. The standard rate of sales tax has also been increased from 17 to 18 percent which is applicable on the import of mobile phones.
کان اِدھر سے پکڑیں یا اُدھر سے” کے مِصداق موبائل فون کے خریدار کو کوئی خاص فرق نہیں پڑے گا۔ اور جو فرق ہوا بھی تو “اونٹ کے منہ میں زیرہ برابر ہوگا”۔
حقیقت یہ ہے کہ حکومت کاٹی گئی ٹیکس کے نتیجے میں آمدنی میں کمی کا اثر پڑتا ہے۔ تاہم، اس کا یقین نہیں کہ حکومت کاٹے گئے ٹیکس سے ریاستی آمدنی کم ہوگی بلکہ یہ بھی ممکن ہے کہ اشیاء کی قیمتوں میں کمی کی وجہ سے لوگوں کی خریداریوں میں اضافہ ہوجائے۔ یہ اضافہ لوگوں کی خریداریوں کو بڑھانے اور ریاستی آمدنی میں بھی اضافے کے ذریعے اضافے کا سبب بن سکتا ہے۔ اس طرح، خریداری کرنے والے افراد کی شناخت کرنے سے ریاستی آمدنی میں اضافہ ہوسکتا ہے۔ یہ طریقہ حکومت کو زیادہ آمدنی کی فراہمی میں مدد کرسکتا ہے
The government must never slash the duties on any imported item except for the life saving drugs & very essential food items meant for the human beings not for their pets ! Thanks
Thank you for sharing your perspective. It is important to strike a balance between consumer affordability and government revenue generation. While reducing taxes on imported items may have its drawbacks, it is also necessary to consider the potential benefits it can bring, such as increased access to technology and competitive pricing in the market.
It is crucial for the government to carefully evaluate the impact of tax reductions and ensure that they are implemented in a strategic manner. This includes identifying essential items, such as life-saving drugs and essential food items, where tax reductions can have a significant positive impact on public welfare.
At the same time, the government should explore ways to diversify its revenue streams and identify alternative sources of income to make up for any potential revenue loss. This could include measures such as improving tax compliance, promoting local industries, and exploring innovative financing mechanisms.
Ultimately, the decision to slash taxes on imported mobiles should be made after careful consideration of both the short-term benefits and long-term implications. It is essential to strike a balance that supports economic growth, consumer affordability, and the overall welfare of the country.
The decision to slash taxes on imported mobiles in the FY24 budget may have some negative implications. While it may result in cheaper prices for consumers, it also means a reduction in government revenue. Taxes play a crucial role in funding public services, infrastructure development, and social welfare programs. By significantly reducing taxes on imported mobiles, the government could face challenges in meeting its financial obligations and providing necessary services to its citizens.
Furthermore, a reduction in taxes on imported mobiles may impact local manufacturers and discourage domestic production. It could create an uneven playing field, potentially leading to job losses and hampering the growth of the local mobile industry. Additionally, the decrease in tax revenue from imported mobiles may necessitate the government to seek alternative sources of income or increase taxes in other areas, potentially burdening other sectors or taxpayers.
While the intention behind making mobiles more affordable is understandable, it is essential to consider the long-term implications and ensure a balanced approach that supports both consumer affordability and government revenue generation. A comprehensive assessment of the potential economic and social impacts should be undertaken to mitigate any adverse consequences that may arise from such tax reductions.
Nothing good is expected from this choor government
Lagta hai bhai aap abi abi jail say wapis aaey hian aur PTI ke supporter hain, humain afsoos hai aap ki jo PiTai hoi hai.
abhi to aap nay economy par bhashan daina hai……………woh bhi sadir farma dein.
ہماری حکومت سے کچھ اچھا توقع نہیں کیا جاسکتا۔ اس طرح کے سخت ردعمل کی بجائے، ہمیں ہمارے معاشرتی حوالے سے توانائی مثبت روشنی کے ساتھ کام کرنا چاہئے۔ ایسے تنقیدی ردعمل ہمیں کسی بھی ترقی اور تبدیلی سے محروم کرتے ہیں۔ ہمیں ملک کی ترقی کے لئے اپنا کردار ادا کرنا چاہئے اور امید کرتے ہیں کہ اگر ہم سب مل کر جدوجہد کریں تو ہمارے معاشرتی ہمدرد اقدامات کا مثبت اثر ہوسکتا ہے۔ براہ کرم، مذموم ردعمل کی بجائے ایک دوسرے کو ارشاد کرنے کی کوشش کریں تاکہ ہمیں مل کر مثبت تبدیلیاں لانے میں مدد مل سکے۔