ISLAMABAD: Federal Board of Revenue (FBR) is considering to impose Rs3,000 fix duty on import of laptop and computers in the upcoming budget for fiscal year 2015-16.
Pakistan Computer Association (PCA) Chairman Munawar Iqbal, presiding over a meeting of the Association, emphasised the need to rationalise the existing tax structure and generate additional revenue for the government. He said the PCA has carried out a detailed analysis and comparison of imports made by documented importers and informal sector for Ministry of Finance and the FBR.
Through introduction of fixed tax regime in budget 2015-16, the broadening of tax-base as well as major increase in revenue collection would be witnessed, he said, adding that the industry is also willing to give assurance/guarantee for expected increase in revenue and documentation of all importers following fixation of tax rates on the import of said items, he added.
Munawar asked FBR Chairman Tariq Bajwa to provide the computer vendors an opportunity before budget to share detailed analysis for tax mangers and budget makers to enhance revenue and increase documentation of the computer vendors. Moreover, smuggling would decline and revenue would rise by making a tax policy shift in case of computer industry, he said.
The fixation of tax rates at Rs 3000 on the import of laptops and desktops computers from 2015-16 would discourage the importers in informal sector to illegally import computers. The cost of smuggling would become higher as compared to the fixed rate of taxes at Rs 3000 for legal imports. Due to absence of incentive to smuggled computer apparatus, everyone would be happily ready to declare and pay Rs 3,000 fixed tax without by-passing the legal system of the FBR, he added. Besides, people belonging to the low-income group will be able to afford to buy a standard notebook.
