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ISLAMABAD: The federal government proposed abolishing sales tax exemptions and concessions on various items including mobile phones, copper, coal, paper, and plastic scrap.
In his budget speech on the National Assembly floor, FInance Miniter Muhammad Aurangzeb said that the government has proposed a standard sales tax rate of 18 percent on various items.
The government also proposed to increase import duties on luxury cars worth over $50,000. The budget proposal also asked the House to increase the import duty on steel and paper products. The 18 percent sales tax would be applied on mobile phones, copper, coal, paper, and plastic scrap, as per the budget proposals.
The government also proposed to increase import duties on luxury cars worth over $50,000
Muhammad Aurangzeb is presenting Pakistan’s budget for the fiscal year 2024-25 with a total outlay of Rs18 trillion.
The National Assembly (NA) session began with recitation of the Holy Quran followed by the national anthem. Prime Minister Shehbaz Sharif is also in attendance.
