LIVE – Budget 2024-25 Transmission: Tax increase proposed on imported mobile phones | Geo News

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Budget 2024-25: Tax increase proposed on imported mobile phones
FBR sources say PTA cess, FED proposed on phones.
Increase in GST on import of mobile phones “proposed”.
Sources say imposition of additional GST is difficult.
A proposal has been made to increase the tax on imported mobile phones in the federal budget for the next financial year 2024-25, sources told Geo News on Tuesday.

A day before the laying out of the budget, sources within the Federal Board of Revenue (FBR) said it had also been proposed that the Pakistan Telecommunication Authority (PTA) cess and Federal Excise Duty should also be enhanced on the imported cell phones.

“Apart from this, an increase in the GST on import of mobile phones too has been proposed in the finance bill,” the sources said.

The coalition government led by Pakistan Muslim League-Nawaz (PML-N) is expected to lay out ambitious fiscal targets in the Budget 2024-25 that will help strengthen its case for a new bailout deal with the International Monetary Fund (IMF), officials and analysts said.

Conceding severe financial constraints and cutting down on the development funding under the IMF programme, the Annual Plan Coordination Committee (APCC) has recommended Rs1,221 billion for the development programme at the federal level for the financial year 2024-25.

It would be the first budget to be presented by the incumbent government.

As Pakistan strives to secure a loan programme to avert a default in a slow-paced economy, the global lender has asked the country to raise provincial taxes, especially on agriculture, sales tax on services and property tax.

The country is in talks with the IMF for a loan estimated to be anything between $6 billion to $8 billion to avert a default for an economy that is growing at the slowest pace in the region.

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