Finance Minister AHM Mustafa Kamal on Thursday placed the proposed National Budget of fiscal 2022-23 in Jatiya Sangsad.
While placing the budget, the Finance Minister proposed to impose 5 per cent value added tax (VAT) at traders' stage of mobile phone sets. As a result, prices of mobile phones will go up.
The Finance Minister started placing the budget at 3:00pm in Jatiya Sangsad. Chaired by Speaker Dr Shirin Sharmin Chowdhury, the 51st National Budget of independent Bangladesh was placed in presence of Leader of the House Prime Minister Sheikh Hasina in the chair.
In his budget speech, the Finance Minister said, "I propose to withdraw the existing 5 per cent VAT exemption at trading stage of mobile phone sets."
In April, the number of mobile phone customers in the country reached to 18.34 crore.
At present, importers need to pay about 58% duty on import of smartphones, while the duty structure is 3%-27% on locally assembled and manufactured handsets.
It may be mentioned that a total of 4.12 crore mobile handsets were imported and locally manufactured in the outgoing fiscal of 2021-22.
