KARACHI – Prices for high-end mobile phones are expected to rise due to changes in the Sales Tax Act and Federal Excise Act by the Federal
Prices for high-end mobile phones are expected to rise due to new changes in the sales tax.Advertisement
Board of Revenue . The new changes include a 25% sales tax on imported mobile phones in Completely Built Up condition valued over $500 per device.18% sales tax on mobile phones imported in CKD/SKD condition, regardless of value A 25% sales tax will be imposed on mobile or satellite phones imported or registered if their value exceeds $500 or its equivalent in rupees.An 18% sales tax will also be applied to locally manufactured mobile phones in CBU condition and imports in CKD/SKD condition, regardless of their value.The updated Sales Tax Act defines “tax fraud” as underreporting or underpaying taxes, overstating tax credits or refunds, and submitting false documents or withholding information to avoid paying taxes.
To combat tax fraud, the FBR has set up a Tax Fraud Investigation Wing with specialized units. Businesses may need to integrate electronic invoicing systems for real-time sales reporting. Penalties for tax fraud include a fine of Rs25,000 or 100% of the evaded tax, whichever is higher, and imprisonment of up to five years for evading less than one billion rupees, or up to ten years for evading one billion rupees or more, plus additional fines.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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