IMF 25% tax on automobiles, make-up goods, shampoo, soap, lotion

 

IMF 25% tax on automobiles, make-up goods, shampoo, soap, lotion

The Islamabad government, under the leadership of the MD, has fulfilled another condition of the IMF. As part of this agreement, the Cabinet has approved an increase in the sales tax on luxury items to 25%.

A summary approval has been obtained for the notification of the 25% sales tax from the federal cabinet. Following this, the FBR will issue the notification, and the new rate will be implemented from March 1.

By increasing the sales tax on luxury items, the FBR is expected to earn 15 billion rupees in four months. According to sources, the sales tax on imported and locally manufactured 1400 cc vehicles will be reduced to 25%. Similarly, the sales tax on imported electronic products and makeup products will also be reduced to 25%.

Furthermore, the sales tax on imported pet food, imported shoes, imported ladies' purses, shampoos, soaps, lotions, imported headphones, iPods, speakers, doors, and windows will also be reduced to 25%. According to the summary, the sales tax on imported luxury pots, bath fittings, imported tiles, sanitary equipment, chandeliers, and fancy lights will also be 25%.