Budget Reduce Tax Rate Of Customs Duty On Imported Mobile Phones

Mobile fees have been decreased during the budget declaration for the fiscal year 2076/77 B.S. The government has decided to reduce the value of the mobile phones by reducing the rate of tax being implied to the mobile phones being imported through various borderlines.

Minister of Finance Dr. Yuvraj Khatiwada has declared the reduction of the rate of tax coming on mobile by presenting the budget for the next fiscal year on Jestha 15th 2076. He has reduced the tariff rate by half to 2.5% on the import of mobile phones for this fiscal year. Earlier the rate of such rate was at 5%.

Finance Minister Khatiwada had set up an interest rate by 5% by removing the amount of VAT on mobile import. The same reason led to a decrease in the import of mobile phones to about 50%, after the increase in the import tax rates last year. Due to the increase in customs rate, mobile phones were entering Nepal under the radar illegally.

For the upcoming year, the tariff rate is set up to only 2.5% in the cellular networks or other wireless networks being used for telephone communications. Currently, 13% of the VAT charges, which were being carried out on mobile phone import, have been maintained in the budget unveiling. Mobile phone importers had been asking to remove the fee on mobile import.

In the budget for 2076/77 B.S., 5% custom rate has been fixed for the base stations used by the telecom companies whereas 5% rate has been set for the switching and routers as well.

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