ISLAMABAD: The federal budget for the next financial year 2020-20 is likely to provide special incentives to promote mobile phone manufacturing in the country, while the Overseas Pakistani Chambers of Commerce and Industry Suggested reducing the taxes and duties on the import of mobiles phones into the country.
The FBR is likely to allow overseas Pakistanis to bring one mobile phone free of charge, sources said, adding that the FBR is finalizing budget proposals, boosting the industry by assembling and manufacturing mobile phones locally. Overseas Pakistani Chamber of Commerce and Industry said that after the increase in duty tax on the import of smartphones and the implementation of the DRIB system, the import of mobile phones and penetration of mobile phones in the country also decreased by six percent.
The rate of duty and tax should be maintained at Rs.500 per set, but the maximum rate should be fixed at Rs.1000 per mobile set for the handsets costing over/equal to Rs.10,000. The FBR will review the proposals and make the final decision in consultation with stakeholders.