People to face extra burden of Rs 500b in next budget
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The people will have to face an extra tax burden of Rs 500 billion in the upcoming budget FY 2023-24 besides the taxes introduced in February's mini-budget to meet the requirements of the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme.
According to the 24NewsHD TV channel, the taxes introduced in the mini-budget of February 2023 will remain effective along with the new taxes on the public in the proposed budget.
According to the sources, there is a proposal to increase the tax on imported luxury items in the fiscal year 2023-24 budget.
The sales tax rate on imported vehicles will remain at 25 percent in the next budget.
It is proposed that the sales tax rate on imported tiles and sanitary ware will remain at 25 percent.
It is recommended to keep a 25 % sales tax on imported carpets, electrical appliances, chocolate, cigarettes, cigars, e-cigarettes, tissue papers, cornflakes, cereals, cosmetics, and shaving products.
The sources further said that it is also recommended to increase the tax on imported mobile phones.
The duty on mobiles worth more than $100 is likely to be increased.