In a surprising move, Pakistan has reportedly spent a staggering $473 million on the import of mobile phones during the first 10 months of the current fiscal year, despite grappling with a severe shortage of foreign currency.
(more…)Tag: mobile phones
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Pakistan Customs to auction various models of iPhones
Pakistan Customs has announced an auction for various models of iPhones that will be held on May 10, 2023, at Customs Dryport Multan.
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Policy requires duty and taxes on all mobile phones imported into Pakistan
Pakistan has recently implemented a new policy regarding the import of mobile phones into the country, official sources said recently.
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Pakistan assembles 2.35 million mobile phones in Feb 2023
The Pakistan Telecommunication Authority (PTA) has reported a significant surge in local mobile handset manufacturing, with local plants assembling 2.35 million mobile devices in February 2023.
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Cell phone import in Pakistan plunges by 68%
ISLAMABAD: During the first eight months of the current fiscal year (2022-23), there has been a 68.29 percent decrease in the import of cell phones into the country compared to the same period last year.
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Pakistan slaps 25% sales tax on import of mobile phones valuing above $500
In an effort to generate additional revenue and bridge fiscal gaps, Pakistan has imposed a 25% sales tax on the import of mobile phones valued above $500 per piece, according to official sources.
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New rates of sales tax on mobile phones imposed through mini budget
ISLAMABAD: Federal Board of Revenue (FBR) has issued new rates of sales tax on mobile phones after implementation of the mini budget.
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Pakistan imports mobile phones worth Rs93 billion during seven months
Pakistan imports mobile phones worth Rs93 billion during first seven months (July – January) 2022-2023 amid challenging economic conditions.
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Pakistan imports mobile phones worth $363 million amid worst forex crisis
KARACHI: Pakistan has imported mobile phones worth $363 million during first half (July – December) of fiscal year 2022-2023 despite fact of worth foreign exchange crisis in the country.
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Tax rates on mobile phone, internet users during 2022-2023
KARACHI: The Federal Board of Revenue (FBR) has issued amended income tax law to notify the tax rates on users of mobile phones and internet during 2022-2023.
FBR issued Income Tax Ordinance, 2001 updated up to June 30, 2022 incorporating changes made through the Finance Act, 2022.
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The revenue body collects these taxes under Section 236 of the Income Tax Ordinance, 2001.
Under this section, in the case of telephone subscriber (other than mobile phone subscriber) where the amount of monthly bill exceeds Rs1,000, then the tax rate shall be 10 per cent of the exceeding amount of bill.
Similarly, in the case of subscriber of internet, mobile telephone and pre-paid internet or telephone card, the tax rate shall be 15 per cent of the amount of bill or sales price of internet pre-paid card or pre-paid telephone card or sale of units through any electronic medium or whatever form.
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According to the Section 236: Telephone and internet users.- (1) Advance tax at the rates specified in Division V Part IV of the First Schedule shall be collected on the amount of –
(a) telephone bill of a subscriber;
(b) prepaid cards for telephones;
(c) sale of units through any electronic medium or whatever form; and
(d) internet bill of a subscriber; and
(e) prepaid cards for internet.
(2) The person preparing the telephone or internet bill shall charge advance tax under sub-section (1) in the manner telephone or internet charges are charged.
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(3) The person issuing or selling prepaid cards for telephones or internet shall collect advance tax under sub-section (1) from the purchasers at the time of issuance or sale of cards.
(3A) The person issuing or selling units through any electronic medium or whatever form shall collect advance tax under sub-section (1) from the purchaser at the time of issuance of sale of units.
(4) Advance tax under this section shall not be collected from Government, a foreign diplomat, a diplomatic mission in Pakistan, or a person who produces a certificate from the Commissioner that his income during the tax year is exempt from tax.