By WEB DESK: The federal government has decided to impose the standard rate of sales tax on several items in the budget for the fiscal year 2024-25.
Federal Finance Minister Muhammad Aurangzeb presented a federal budget of 18,900bn rupees for the upcoming fiscal year 2024-25 in the National Assembly.
The government has decided to increase taxes and duties on imported vehicles worth 50,000 dollars and to abolish import duties on imported glass products.
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Moreover, the documents also state that withholding tax will be imposed on copper, coal, paper, and plastic scrap, and tax exemptions on the import of luxury vehicles will be withdrawn.
In addition, the government has decided to increase taxes and duties on imported vehicles worth 50,000 dollars and to abolish import duties on imported glass products.
Additionally, the government has decided to increase duties on the import of steel and paper products.
Budget 24-25: Massive tax on imported mobile phones
According to the budget documents, the government has decided to eliminate sales tax exemptions and concessions, and an 18% sales tax will be imposed on various categories of mobile phones.
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