The bill would ban TikTok in the United States if its owner ByteDance fails to divest the app over the next nine months
Laptops get more expensive as govt imposes 15% VAT on imports
The prices of laptops are set to go up in fiscal year 2022-23 as the government is planning to impose a 15 percent VAT on the import of the device.
Published : 9 June 2022, 01:00 PM
Updated : 9 June 2022, 01:00 PM
Finance Minister AHM Mustafa Kamal revealed the plan during his budget speech in parliament on Thursday.
Laptop computer imports are subject to a VAT exemption, Kamal said. As a result, domestic computer manufacturers are facing uneven competition.
“I am proposing to impose 15 percent VAT on laptop computer imports. As a result, the total tax incidence on the product will be 31 percent.”
The concession facility covering the import of raw materials for the computer accessories and ICT industry will be expanded, the budget said.
These concessions have been rationalised and made more investment-friendly, the government said.
VAT waivers on imports of computer printers and printer cartridges have also been removed, meaning that prices will go up as the 15 percent tax is imposed.
RELATED STORIES
Adobe's image and video editing tools are widely used by creative professionals, but it faces rising competition from startups such as Microsoft-backed OpenAI, Midjourney and Stability AI
The repair work on the damaged submarine cable will persist until the last week of May, BSCPLC says
SpaceX reported 5.9 injuries per 100 workers, surpassing its rate of 4.8 injuries in 2022
