Islamabad: Mobile phones are likely to become more expensive as it is expected that more tax on imported luxury items will be imposed in the budget of the next financial year 2023-24.
According to details, the federal government is considering increasing the duty on mobile phones worth more than $100 along with other imported items such as energy saver bulbs, chandeliers and LEDs in the upcoming budget financial year 2023-24.
The target of the federal government is to get a revenue of one billion rupees. 45 to 55 billion rupees while retaining 25 percent 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.
Additionally, sales tax on items like imported makeup (cosmetics), hair dyes, dyes, and pet food will also remain at 25 percent during the next fiscal year (FY 2023-24).
If the federal government hikes taxes and duties on mobile phones and imported cars, it is likely to be more expensive for consumers in the upcoming budget 2023-24.
