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Friday, November 22, 2024

Home Business New tax rate for Apple iPhones from July 1 in Pakistan after Budget 2024-25

New tax rate for Apple iPhones from July 1 in Pakistan after Budget 2024-25

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ISLAMABAD – The federal government has proposed various taxes on mobile phones, including Apple iPhone in recently presented budget 2024-25, which is yet to be approved by the parliament.

If the proposals are accepted, there will be new tax rate for Apply iPhones in Pakistan, with effect from July 1, 2024.

According to finance bill 2024, the government has proposed 25% ad volerm for imported smartphones price above $500 dollars while there will be standard 18% sales tax on all phones priced below $500.

The proposal will definitely affect the prices of Apple iPhones as the company has no official presence in Pakistan and its handsets are imported for selling them in local market.

Locally manufactured and supplied smartphones will also be taxed at the 18% rate.

Prices of These iPhone Models to Increase in Pakistan from July 1

The prices of iPhone 11, iPhone 13, iPhone 14, iPhone 15, iPhone 15 plus, iPhone 15 Pro Max and iPhone 15 pro are expected to increase in Pakistan if the proposal to jack up the sales tax rate to 25% for phones valued above $500 is approved.