Smartphones to become costlier as regulatory duty rise up to 240%

KARACHI: The imported smartphones would become costlier, as the Federal Board of Revenue (FBR) has increased up to 240 per cent regulatory duty on the import of smartphones.

The new rate of the regulatory duty has been implemented with effect from July 1, 2021.

The revenue board issued a notification on Thursday notifying a list of 599 tariff lines for the application of the revised rate of regulatory duty during the fiscal year 2021/22.

According to the notification, the regulatory duty has been raised up to 240 per cent on the import of smartphones in the range of $200 and $300 cost and freight value.

Following the decision, the regulatory duty on the smartphone, valuing Rs165 would now cost Rs300 with an enhanced duty of 82 per cent; the regulatory duty on a smartphone of $30 to $100 (cost and freight value), worth Rs1,620 would now cost 85 per cent higher to Rs3,000. Likewise, the regulatory duty has been increased 208 per cent to Rs7,500 from Rs2,430 on a smartphone, valuing $100 to $200 (cost and freight value).

For the category of a smartphone valuing $200 to $350 (cost and freight value), the regulatory duty has been increased by 240 per cent to Rs11000 from Rs3,240.

The regulatory duty has been increased 59 per cent to Rs15,000 from Rs9,450 on the smartphone, valuing $350 to $500 (cost and freight value).

The FBR has also enhanced the regulatory duty by 32 per cent to Rs22,000 from Rs16,650 on the smartphones, valuing over $500 (cost and freight value).

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