The Federal Government has presented its annual budget for the year 2017-2018 in the national assembly on 26 May 2017. The government has announced the reduction on the taxes on certain smart phones. According to the details, the government was imposed import duty of Rs.1000 in the previous budget and now in this budget, it has been reduced to Rs.650.
The government said that they have taken the step to increase the import duty to increase the import of the smart phones in the country. There are three categories of the smart phones, which are imported in the country.
- Feature Phone – Import duty Rs.300
- Low end smart phone – Import duty rs.650 (Previous import duty was Rs.1000/-).
- High end smart phone – Import duty Rs.1500/-
The users will note that the import duty for the two other categories will remain same. It is needed to mention that the import duty on the import of the smart phone was increased from Rs.500/- to Rs.1500/- with last two years and now it has been slashed partially.
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