Budget FY25: SIM cards to get costlier
Finance Minister Abul Hassan Mahmood Ali placed the proposed budget in Parliament today (6 June)
Value Added Tax (VAT) on SIM/e SIM cards has been increased from Tk300 from the previous Tk200 in the national budget proposed today (6 June).
The mobile phone SIM-enabled telecommunication services will be costlier as the supplementary duty on the services was raised to 20% from 15% in the proposed National Budget for 2024-2025 fiscal year.
Finance Minister Abul Hassan Mahmood Ali placed the proposed budget in Parliament today (6 June).
Keep updated, follow The Business Standard's Google news channel
In his maiden budget speech, the finance minister said, "I propose to fix 20% supplementary duty only upon the SIM/RUIM card enabled mobile telecom service [Service Code S012.10] instead of existing 15%."
He, however, said the cost of the internet has been significantly reduced, and the opportunities for web-based employment and business have been expanded. In 2008, minimum cost of 1 Mbps fixed internet bandwidth was Tk27,000, whereas it is now only Tk60. To extend these benefits to rural areas, high-speed internet has been expanded to union levels at low costs, he said.
Ali said the number of mobile financial wallet users has surpassed 12 crore. With over 9,000 digital centres across the country and approximately 8,500 post e-centres and more than 16,000 entrepreneurs, including 5,344 women, citizens can access to necessary services. Additionally, to allow citizens to access services conveniently, over 2,400 services have been digitized.
He said the easy availability of the internet has increased its user base from 40 lakh in 2008 to nearly 12.92 crore by the end of January 2024. During this period, internet density in Bangladesh has risen to 75.12% from just 2.7% in 2008, he said.
