Colombo (LNW): The Mobile Phone Marketing and Sales Association (MPMSA) has announced a 35 percent increase in the selling prices of all mobile phones, starting tomorrow (Jan 01), due to the newly imposed Value Added Tax (VAT).
Association President Sampath Senarath cited the decision as a response to the 18 per cent VAT hike effective from tomorrow.
Anticipating a significant impact on the market, Senarath highlighted an expected 50 per cent decline in the mobile phone market with the new pricing structure.
Consequently, a mobile phone originally priced at Rs. 100,000 will now be sold at Rs. 135,000.
