Islamabad (October 17, 2017): The federal Bureau of Revenue has increased the regularity duty on import of luxury items including women makeup and electronic items via a statutory regulatory order (SRO) claiming that the step will help to curb imports.
The regulatory duty on import items varies between 10 and 50 percent.
The items include everything being imported into the country including confectionery items, toiletries, fruits all the way up to vehicles.
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According to notification 30 per cent duty has been added on 1800CC cars, 50 per cent duty enhanced on women’s imported makeup items including lotion, skin cream, face powder, eye-makeup hair colour, and nail polish.
The sports imported item including cricket, hockey, squash and polo balls will have to face 30 per cent increased. Duty of domestic electronic item has been jumped to 40 per cent.
Taxation experts weighing in on the issue claim that imposing regulatory duties on luxury imports will likely reduce demand of the products and in turn help ease the deficit on the budget in light of increasing pressure on the Pakistani Rupee.