Pakistan likely to reduce duty on mobile phones in budget 2023-24

In line with the proposals given by the Pakistan Mobile Phone Traders, the federal government is anticipated to lower the duty on mobile phones in the upcoming budget for fiscal year 2023-24.

Previously, the government raised the duty on small and large mobile phones by 100% to 150%, resulting in just Rs5 billion to Rs10 billion collected instead of Rs85 billion.

According to reports, the Federal Board of Revenue (FBR) is considering possibilities in this regard, and the merchants' association has also given proposals to Finance Minister Ishaq Dar.

According to traders, excessive taxes has dealt significant blows to the mobile phone industry, with small enterprises suffering the most as their owners are unable to earn a living.

It has been learned that a 75% duty on cellular phones has been imposed in Pakistan, as opposed to other nations in the region such as Singapore, Bangladesh, and Turkey, where it is not. That is why consumers use smartphones without headphones.