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Tuesday 09 July, 2024
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Budget 2023-24: Huge Tax Relief on PCs, Laptops, Hardware, and Battery Parts

BY Shahzad Saeed Jun 09, 2023. 09:05 pm

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The annual budget for the fiscal year 2023–2024 has been released by the federal government. Although there are few to no announcements for tech- or telecom-related goods or services, there is good news for independent contractors and tech aficionados.

There will be no sales tax on laptops, personal computers, notebooks, computer parts, and other related devices, according to exclusive government documents.

The same is true for some lithium battery components, which are found in a variety of electronic products including smartphones, laptops, appliances, and a host of other things.

Subject to the following conditions, software exporters registered with Pakistan Software Export Board will receive a discount on the assessed value of the imported goods equal to 1% of their export proceeds from the prior fiscal year:

  1. The Pakistan Software Export Board must certify that the imported goods are legitimate necessities for the software exporter’s own use; and
  2. Export proceeds must also be verified by the Pakistan Software Export Board. (Explanation: During the fiscal year, one or more consignments may be eligible for a concession equal to 1% of the export proceeds of the previous financial year on the assessed value of the imported goods, but the total cannot exceed 1% of the export proceeds.)

This means that, at least temporarily, we can anticipate an improvement in local prices for these devices.

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Read more: Ishaq Dar, Finance Minister, Unveils Budget 2023-24

 

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