Islamabad (Lord Media): Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, assured the National Assembly’s Finance Standing Committee of a 20% reduction in regulatory duty on imported mobile phones. He indicated that the possibility of reducing taxes on mobile phones valued up to 200 U.S. dollars could be explored.<\/p>\n
According to FBR officials, the tax rate is 25% for mobile phones valued up to 30 U.S. dollars, 36% for those between 31 and 100 U.S. dollars, 40% for phones between 101 and 200 U.S. dollars, and 41% for phones over 500 U.S. dollars. As the price of mobile phones increases, so does the tax.<\/p>\n
During the meeting, committee members highlighted the presence of millions of non-PTA mobile phones in the market and emphasized the need to introduce an installment system for tax payments. Committee Chairman Syed Naveed Qamar instructed the FBR and PTA to jointly present a plan regarding the installment system.<\/p>\n
Committee member Hina Rabbani Khar questioned whether this initiative was solely for revenue or to protect a specific company. The FBR Chairman explained that revenue from mobile phones is part of the national revenue target, and a reduction could result in a financial impact of approximately one billion rupees.<\/p>\n","protected":false},"excerpt":{"rendered":"
FBR to cut duty on imported mobile phones, impacting revenue. Reduction could affect phones valued up to 200 U.S. dollars.<\/p>\n","protected":false},"author":1,"featured_media":75619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[326],"tags":[292,619,336,221,358],"ppma_author":[94],"class_list":["post-75618","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-stories","tag-economy","tag-fbr","tag-mobile-phones","tag-pakistan","tag-taxation"],"yoast_head":"\n