15pc VAT on mobile phones at import stage proposed
Thursday, 5 June 2014
The government has decided to slap 15 per cent VAT on mobile phones at the import stage to protect the local mobile phone industries, according to a news agency.
Proposing imposition of the VAT in his budget for next fiscal (2014-15), Finance Minister AMA Muhith Thursday said that some companies are assembling quality mobile phones in the country. They have to pay 15 per cent VAT at the assembling stage.
“On the other hand, there is only 10 per cent VAT on imports of mobile phones. This has created uneven competition between local assembling industries and imports.”
In view of this, he proposed to impose 15 per cent VAT on mobile phones at the import stage.