Budget FY23: 15% VAT imposed on imported laptops

Prices to go up

In the proposed budget for the fiscal year 2022-23, Finance Minister AHM Mustafa Kamal has proposed to impose 15% value added tax (VAT) on imported laptops. 

The finance minister said: “Laptop computer imports are subject to VAT exemption. As a result, domestic computer manufacturers are facing uneven competition. So, I am proposing to impose 15% VAT on laptop computer imports.”

As a result, the total tax incidence of the product stands at 31%, he added.

He proposed the budget on Thursday.