The Federal Government is reportedly mulling to increase taxes on mobile phones and other imported items like cars and electronics in the new budget for Fiscal Year (FY) 2023-24.
According to the details, the Federal Government is considering to increase the duty on mobile phones worth more than $100 along with other imported items like energy saver bulbs, chandeliers, and LEDs in the upcoming budget FY2023-24.
The Federal Government aims to generate a revenue of Rs. 45 to 55 billion by keeping the 25% sales tax on luxury items like imported shoes, branded purses, imported sunglasses and perfumes, branded headphones, speakers, iPods, doors, windows, bath fittings, tiles, and sanitary.
Furthermore, the sales tax on items like imported make-up (cosmetics) goods, hair colors, dyes, and pet food will also remain at 25% during the next Fiscal Year (FY) 2023-24.
If the Federal Government goes through with increasing the taxes and duties on mobile phones and imported cars, these are likely to get more expensive for consumers in the upcoming budget 2023-24.