Mobile phones getting costlier
Thursday, 5 June 2014
Mobile phone handsets are getting costlier with the new budget levying 15 percent VAT on its import. Presenting his new budget for 2014-15 fiscal on Thursday, Finance Minister AMA Muhith said the move aimed to help the local industry flourish. “Some companies are assembling quality mobile phones in the country. They have to pay 15 percent VAT at the assembling stage. “On the other hand, there is only 10 percent VAT on imports of mobile phones. This has created uneven competition between local assembling industries and imports,” he said in Parliament. He then went on to propose slapping 15 percent VAT on mobile phones at the import stage. The budget will be passed on June 29 after the MPs discuss the proposal, according to bdnews24.com.