Finance Bill 2018: Up to Rs5,000 mobile handset levy introduced

KARACHI: The government has introduced new levy up to Rs5,000 as federal excise duty on import of smart phones.
Through Finance Bill 2018, the mobile handset levy has been introduced and Rs5,000 FED imposed on cell phone having import value of handset (including duties and taxes) exceeding Rs80,000.
However, Rs3,000 has been imposed where import value of handset (including duties and taxes) exceeding Rs40,000 but does not exceed Rs80,000.
Another slab of Rs1,000 is introduced where import value of handset (including duties and taxes) exceeds Rs10,000 but does not exceed Rs40,000.
However, there will be no FED on import value of handset (including duties and taxes) does not exceed Rs10,000.

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