Govt intends to raise taxes on mobile phones, other imported items in upcoming budget

ISLAMABAD – Mobile phones will likely become more expensive as additional tax on imported luxury items is scheduled to be levied in the budget for the upcoming fiscal year 2023-24.

The federal government is considering raising the duty on mobile phones worth more than $100, as well as other imported commodities such as energy-saving lamps, chandeliers, and LEDs in the budget.

The federal government's goal is to generate one billion rupees in income. 45 to 55 billion rupees, with a 25% sales tax on luxury items like as imported shoes, branded purses, imported sunglasses and fragrances, branded headphones, speakers, iPods, doors, windows, bath fittings, tiles, and sanitation.

Furthermore, the sales tax on imported cosmetics, hair dyes, colours, and pet food would stay at 25% for the next fiscal year (FY 2023-24).

If the federal government raises taxes and levies on mobile phones and imported autos, consumers would certainly pay more in the upcoming fiscal year 2023-24.