Tax Amendment Ordinance: advance income tax on mobile phone import reduced

Tax Amendment Ordinance: advance income tax on mobile phone import reduced

ISLAMABAD: The government has reduced advance income tax on import of mobile phones through promulgation of presidential ordinance.

The Federal Board of Revenue (FBR) on Wednesday issued salient features to explain the amendments to Income Tax Ordinance, 2001 through Tax Laws (Second Amendment) Ordinance, 2001.

The FBR said that prior to the promulgation of the Tax Laws (Second Amendment) Ordinance, 2019 the rate of withholding income tax on the import of mobile phones was Rs.730 in case of a mobile phones having value exceeding $30 and up to $100.

In order to complement the efforts of the government towards promotion of financial inclusion, e-commerce etc, income tax at the import stage in respect of mobile phones having value exceeding $30 and up to $100 has been reduced from Rs730 to Rs100 per mobile phone.

After the amendment the advance tax rates on import of mobile phones are following:

01. Up to $30 the advance income tax is Rs70

02. Exceeding $30 and up to $100 the advance tax is Rs100

03. Exceeding $100 and up to $200 the advance tax is Rs930

04. Exceeding $200 and up to $350 the advance tax is Rs970

05. Exceeding $350 and up to $500 the advance tax is Rs3,000

06. Exceeding $500 the advance tax is Rs5,200.

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