The Federal Board of Revenue (FBR) has increased the regulatory tax on imported items. This increment of regulatory duty was done on Wednesday.
As per sources, some of the imported goods are the ones on which the duty has been imposed by FBR for the first time.
As per details, the regulatory duty on the import of honey has been raised from twenty to thirty per cent and the duty on cheese has been increased from thirty-five to fifty per cent.
A regulatory duty of ten per cent has been applied on olives, mushrooms and other imported vegetables. A ten per cent regulatory duty would also be imposed on imported seafood.
Five per cent tax has been imposed on imported paper and electric sound amplifiers, while a five per cent increase has also been placed on the sports goods and shoes.
The duty on imported furniture has also been hiked from ten to forty-five per cent while the electrical goods would see an increase of ten per cent duty. The regulatory duty on marble would be raised by ten per cent, while there would be a five per cent increase in duty of plastic goods.
For cars, the regulatory duty has been raised by ten per cent on 4×4 automobiles, and same duty for the imported car parts.
Earlier, the government suggested an increase in tax on the costly mobile phones and vehicle 1,800cc and above that.
Asad Umar—the Finance Minister informed while presenting the supplementary budget that the federal excise duty on the 1800 cc cars and above has been raised from ten to twenty per cent.
The regulatory duty on many imported luxury goods would also be hiked. He said that if someone likes imported items like the minister for human rights then they should be permitted to buy the products, but they would have to pay tax on it.