Business

Budget proposal to increase tax on imported luxury items, phones will become more expensive

ISLAMABAD: Tax on imported luxury items has been proposed to be increased in the budget of the next financial year.

According to FBR sources, expensive and imported mobiles are likely to become more expensive in the budget, besides the duty on mobiles worth more than $100 is likely to be increased in the budget.

Sources say that imported energy saver bulbs, chandeliers and LEDs will be expensive, sales tax on imported electronics items will remain at 25 percent while sales tax on imported make-up items like lipstick, mascara and face powder will remain at 25 percent. .

According to sources, the sales tax will also be 25 percent on imported hair colors, dyes, imported pet food, imported branded shoes, imported branded purses for women, imported shampoo, soap and lotion.

Sources say that in the upcoming budget, the sales tax rate on imported glasses, perfumes, imported private arms, branded headphones, iPods, speakers, imported luxury utensils, imported doors and windows, bathroom fittings, tiles, sanitary, imported carpets and rugs will be increased to 25. The percentage will remain unchanged.

Apart from this, sales tax on imported energy drinks, imported juices, vehicles, imported musical instruments, imported biscuits, bakery items, imported chocolate and candy will remain at 25 percent.

Sources say that 55 billion revenue is expected from the sales tax on luxury items at 25 percent.

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