Sales and Income Tax on import of smart-phones drastically reduced: FBR

MG News | January 08, 2020 at 04:39 PM GMT+05:00

0:00

January 8, 2020: The Federal Board of Revenue (FBR) on Wednesday issued a clarification on the news item published in a section of the press regarding the Government’s Digital Pakistan Initiative.

“FBR has clarified that according to Government’s Digital Pakistan Initiative, Sales Tax and Income Tax at import stage has been drastically reduced in case of smart-phones of Rs15,000 or below,” said an FBR statement issued here.

It said that the government, however, was cognizant of the fact that local manufacturers might need some protection to provide them a level-playing field in the market and encourage local manufacturing of smart-phones in Pakistan.

In this regard, a committee under the leadership of Adviser for Commerce, Textile, Industry and Productions and Investment, Abdul Razak Dawood has been already working.

A final decision in this regard would be taken by the Economic Coordination Committee (ECC) after consulting all the stakeholders, the statement added.

APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,895.00	0.00 0.00	-165.00 -0.19%
BRENT CRUDE	60.55	60.65 59.40	0.73 1.22%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.54	0.00 0.00	0.02 0.04%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%