The Finance Minister has proposed a mini-budget for 2023 in the National Assembly with the proposal of increased taxes associated with various industries. The proposed increase in mobile phone taxes is ringing alarms for the smartphone industry. Mobile phones have already become costly due to massive increases in the Dollar rate. And with this increase in taxes, we can expect another increase in their prices soon.
Let’s see what is going to happen here.
Proposed Mobile Phone Taxes
The proposal to increase the sales taxes on mobile phones is as follows.
|Import Value||Proposed Sales Tax|
Mobile Phones with $200 to $500 Import Value
Here are some of the mobile phones within the bracket of import value $200 to $500.
Mobile Phones with Import Value Exceeding $500
Here are some of the mobile phones with import value exceeding $500.
The phones mentioned above are some of the many whose prices will be affected by the increased sales taxes (proposed). Let’s see how much the prices of phones will increase after the implementation of the mini-budget.
Mini Budget 2023
Desperate to unlock financial assistance from the International Monetary Fund (IMF), the government of Pakistan has tabled a “mini-budget” in the Parliament. Additional taxes worth Rs.170 billion have been levied and while it is not clear whether it would please the international lender, what is clear is that it would unleash another wave, a Tsunami of inflation in Pakistan.
Want to see details of the mini-budget? Click on the following link.
Hold on to Your Wallets: Pakistan’s Mini Budget Set to Drop a Price Nuke
Mobile prices have already increased very much due to the massive increase in the dollar rate. With the fear of an increase in phone prices again due to the proposal of increased taxes, many people will be looking to buy a phone right now before the price hike.
Would you buy a phone now before it gets more expensive? Tell us in the comment section below.
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