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FBR proposes hike from five to 10pc duty on luxury items in upcoming budget

FBR proposes hike from five to 10pc duty on luxury items in upcoming budget

ISLAMABAD: The Federal Board of Revenue has suggested an increase of five to 10 percent duty on cigarettes and imported food, electronic items and use of luxury articles including milk powder, chocolates, energy drinks, pet foods, cheese, Juicers, blenders, air-conditioners, microwave ovens, electric ovens, LCD TVs, toys and all kinds of cosmetics in the coming budget of Financial Year 2018-19.

The government has decided to increase the salaries and pensions of the government servants 10 to 15 percent. The Federal Board of Revenue is taking a number of measures for relief of general public. In this regard, the Prime Minister of Pakistan has already announced the income tax slabs.

Sources told CT that the FBR suggested an increase in the Sales Tax rates from seven to 10 percent on expensive mobile Phone sets while facility of zero rated milk powder for babies will remain the same. The FBR also proposed a decrease in the tax rates applicable on prepaid mobile phone cards.