taxes on imported items

The budget for the fiscal year 2019-20 has been officially approved and signed by the President of Pakistan, Dr Arif Alvi.

Following the budget 2019-20, the Federal Board of Revenue (FBR) issued a notification for new taxes on 569 different luxury/imported items, which means consumers of these items will be required to pay additional regulatory duties on these goods.

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The regulatory duty (RD) imposed on these items ranges from a minor 5% to a whopping 90% on some of the imported products.

The new tax regime is in effect from July 1, 2019 and will be applicable until June 30, 2020.

List of Affected Items

The items which are affected the most include cosmetics, imported goods of domestic usage and edible products.

Here’s a list of items and the duty imposed on them:

Edible Items

ItemDuty
Cheese and Curd50 percent
Natural Honey30 percent
Coconuts
Brazil Nuts
Cashew Nuts (Fresh and Dried)
20 percent
Fruit Juices60 percent
Instant Coffee (Bulk)15 percent
Soups and Broths
Homogenized Composite Food Preparations
20 percent
Ice Cream20 percent

 

Household Goods

ItemsDuty
Paints and Varnishes5 percent
Perfumes and Eau De Toilette50 percent
Wall coverings and Window Transparency Papers30 percent
Energy-Saving Lamps2 percent
Household and Toilet Articles other than Porcelain or China20 percent
Apparel and Clothing Accessories10 percent

 

Vehicles

ItemsDuty
New Minivans and 4×4 Vehicles (CBU)15 percent
New Sport Utility Vehicles15 percent
New Sport Utility Vehicles (SUVs 4×4)90 percent
1000CC-1300CC Vehicles15 percent
Old and Used Cars and Jeeps of 1801CC-3000CC
Old and Used Vehicles over 3000CC
70 percent
Bicycles and other Cycles including tricycles10 percent

Accessories and Other items

ItemsDuty
Microphones
Loudspeakers
Headphones
Earphones
Audio-Frequency Electric Amplifiers
Electric Sound Amplifier Sets
5 percent
CKD/SKD Kits
Home Appliances
Kits not specified
5 percent
Pocket and other watches with metal clad30 percent

 

Many of these imported items are goods of regular use in most households. Do you think the new taxes introduced in the budget 2019-20 will increase the burden on the salaried class population’s shoulders even more?

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Let us know in the comments!

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