The government plans to reduce the total tax incidence on laptop imports from 31% to 20.50% in the upcoming budget. This initiative aims to prevent the influx of substandard and refurbished laptops and support local freelancers and software developers. The current tax structure, coupled with foreign currency exchange rate fluctuations, has made laptops unaffordable for many. The reduction in taxes is expected to make laptops more accessible in the local market, fostering competition among local manufacturers to improve product quality. This move is seen as vital for introducing a variety of brands into the local market and curbing the prevalence of low-quality, refurbished, and smuggled products.
Source for more details:
