Budget 2024-25: Regulatory duty increased on THESE imported items

ISLAMABAD: The government has increased regulatory duty on hundreds of imported items in the fiscal year budget 2024-25, ARY News reported.

According to the Statutory Regulatory Order (SRO), the regulatory duty has been increased on various items ranging from 5% to 55% under Finance Bill 2024, including:

1. Milk and cream (25%),

2. Yogurt, butter, and nuts (20%),

3. Natural honey (30%),

4. Dates, figs, pineapples, and oranges (25%),

5. Cherries (35%),

6. Apples and lemons (45%),

7. Corn (30%),

8. Perfume and makeup (55%),

9. Shaving cream and soap (50%),

10. Overcoats, jackets, and trousers for men and women (10%),

11. Track suits, rompers, shawls, mufflers, and ties (10%),

12. Waterproof shoes, leather shoes, Bathroom fixtures and toilet accessories (regulatory duty increased),

13. Jewelry (45%).

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In a separate development earlier today, new tax rate were introduced in the budget 2024-25 on locally manufactured vehicles among many others, will come into effect today (July 1).

This change marks a shift from a fixed tax rate to a value-based tax system, as outlined in the Finance Bill 2024-25.

Under the new tax regime introduced in budget 2024-25, the tax on vehicles is no longer a fixed amount but varies according to the vehicle’s value.