ISLAMABAD – The federal government on Wednesday proposed imposition of 18 percent standard rate tax on mobile phones of various categories.
Finance Minister Muhammad Aurangzeb made the proposal in the budget for fiscal year 2024-25. He said concessionary rates created distortion in the market to provide benefit to some items.
He said the imposition of the standard tax would offers equal opportunities and create balance in the market.
These are the reasons the government aims at imposing the 18% standard rate tax on various categories of mobile phones.
More to follow…
