Govt to 'hike' taxes on cell phones other imported items in FY23-24 budget

ISLAMABAD: The federal government has proposed increasing taxes on cell phones, cars and other imported luxury items in the FY2023-24 budget, ARY News reported, quoting sources.

The sources said the government is considering increasing duty on mobile, worth more than 100 dollars.

They further added that imported energy saver bulbs, chandeliers, and LEDs will be more expensive in the upcoming budget FY23-24.

The government is eying to generate revenue of Rs45 to 55 billion by keeping the ratio of sales tax of 25% at the luxury items in the budget.

Read more: Budget 2023-24: Rs102.86b likely to be allocated for power sector

Added that a 25% sales tax will be applied on imported branded shoes, branded purses, imported sunglasses and perfumes, branded headphones, iPods and speakers, imported doors and windows, imported bath fittings, imported tiles, and sanitary.

Sources reported that sales tax on imported electronics items, imported make-up goods, imported hair colors, dyes, and imported pet food will remain at 25%.

Separately, the federal government is expected to allocate Rs102.86 billion for the power sector projects in the upcoming budget 2023-24, citing sources, ARY News reported.

Rs102.86 billion allocations have been recommended for the projects of power sector in the new fiscal year 2023-24. It has been recommended to launch 32 new schemes in the power sector.