The federal government is allegedly considering raising taxes on mobile phones and other imported commodities like as autos and electronics in the upcoming fiscal year (FY) 2023-24 budget.
According to the facts, the Federal Government is considering raising the tax on mobile phones valued at more than $100, as well as other imported commodities like energy-saving lights, chandeliers, and LEDs, in the upcoming budget FY2023-24.
The Federal Government hopes to raise Rs. 45 to 55 billion in income by maintaining the 25% sales tax on luxury products like imported shoes, branded purses, imported sunglasses and perfumes, branded headphones, speakers, iPods, doors, windows, bath fittings, tiles, and sanitation.
Furthermore, the sales tax on imported make-up (cosmetics) goods, hair colors, dyes, and pet food would stay at 25% in Fiscal Year (FY) 2023-24.
If the Federal Government follows through on raising taxes and tariffs on mobile phones and imported autos, customers would face higher prices in the forthcoming budget 2023-24.
