Tuesday, November 28, 2023

Here’s How much Mobile Phone Prices Expected to Drop as Govt Plans to Reduce Duty

There is potential for a significant drop in mobile phone prices as the government considers reducing duty, providing relief to consumers. In recent years, the smartphone market has witnessed remarkable growth, but economic crises have resulted in increasingly expensive devices. Import restrictions and high demand have further inflated prices.

In response to the soaring costs, the country’s leading tax collection authority is exploring options to slash the duty on mobile phones in the upcoming budget, taking into account recommendations from Pakistan Mobile Phone Traders. Previously, the government had imposed a 100-150% increase in duty on both small and large mobile phones to generate additional revenue. However, this measure fell short of the targeted funds, covering less than 25% of the goal.

According to reports, the imposition of a 75% duty on cellular phones was significantly higher than that of neighboring countries. Consequently, many individuals have resorted to using these devices without paying the duties.

Traders have brought to the attention of the Federal Board of Revenue (FBR) and the government that the duty on mobile phones does not contribute significantly to the national exchequer, but it adversely affects people from all walks of life, particularly students and professionals. Furthermore, mobile traders have expressed concern over the rise of smuggling activities, which can be attributed to the heavy imposition of taxes.

While this news is not confirmed, it is expected that the government will consider the suggestions made by mobile phone traders and potentially reduce the duty on mobile phones in the upcoming budget. This move aims to alleviate the financial burden on consumers and make smartphones more affordable for all segments of society.

Related Articles

Latest Articles