Taxes, Duties Approved in Budget To Be Effective From Today

Taxes, Duties Approved in Budget To Be Effective From Today

Taxes, Duties Approved in Budget To Be Effective From Today
Taxes, Duties Approved in Budget To Be Effective From Today

Taxes and duties which were approved in federal budget for 2019 -2020, will be implemented from today as next fiscal year has been started from today (July 1). Hike in gas prices set to get underway from today whereas, excise duty was also increased in the cement sector.

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A sack of cement is expected to go up by Rs 35, the price of the cement will be gauged by gas prices in the country. Sales tax on sugar has been bumped up 17% from the previous 8 %. On the other hand Federal Board of Revenue (FBR) on Sunday (June 30) increased the import duty on 569 luxury products.

According to a list published by FBR, the duty on mobile phone has been increased under which on purchasing a phone that is priced at $30 the customer has to pay a tax of Rs30, on purchasing a phone costing $30 to $100 customer has to pay Rs1620, on purchasing a phone costing $100 to $200 customer has to pay Rs2430, on purchasing a phone costing $200 to $350 customer has to pay Rs3240, on purchasing a phone costing $350 to $5000 customer has to pay Rs9450 and on purchasing a phone costing more than $500 the buyer will have to pay Rs16650.

Meanwhile, on importing cars of 1000cc to 1300cc the buyer will pay 15pc duty of its actual price, on importing used sports cars and jeeps of 1800cc to 3000cc the buyer will pay 70pc duty of its actual price, while purchasing new cars of similar category one will pay 90pc duty,

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Other products which were affected by the duty taxes include decoration lights, toothbrushes, energy savers, diapers, vacuum flasks, tubes, sanitary tables, chicken, fish, meat, milk, butter, cheese, eggs, fruits, dry fruits, vegetables, animal feed, ice cream, toffees, beetle nuts, mineral water and other consuming products.

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