Premium Smartphones to Get More Expensive Following Budget 2024-25

According to the finance bill of 2024, sales tax on smartphone imports as well as IMEI registration is now 25% ad valorem following budget 2024-25. This applies to smartphones valued above $500, meaning all high-end and premium smartphones.

However, the 25% rate only applies to fully assembled smartphones valued above $500. Handsets that are yet to be assembled or partially assembled will continue to be taxed at an 18% rate regardless if their value exceeds 18%. The same is the case with locally manufactured and supplied smartphones.

As for mobile phones valued below $500, a flat 18% rate will be applied to fully assembled, partially assembled, and completely unbuilt smartphones, as well as locally supplied handsets, as we have reported before. This is projected to enhance revenue by Rs. 33 billion.

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