The government has fulfilled another condition of the International Monetary Fund (IMF), with the cabinet giving approval to raise the sales tax on luxury items to 25 percent.
The Federal Cabinet has approved the summary from circulation for the notification of 25% sales tax.
By increasing the sales tax on luxury items, the FBR will earn Rs 15 billion in 4 months.
Officials say that after approval of the circulation summary, the FBR will now issue a notification, the new rate will be implemented from March 1.
According to sources, sales tax on imported and locally manufactured 1400 cc vehicles will also be 25 percent, sales tax on imported electronics items and imported make-up goods will be 25 percent.
Sources say that the sales tax on imported pet food, imported shoes, imported ladies’ purses, shampoos, soaps and lotions, imported headphones, iPods, speakers, doors and windows will be 25 percent.
Sources also say that the sales tax on imported luxury utensils, bath fittings, imported tiles, sanitary ware, chandeliers, fancy lights will also be 25%.
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