GNN on Google Play Store GNN on Apple App Store
Connect with us

Business

Sales tax likely to increase in upcoming budget

it is proposed to increase the sales tax on imported canned milk for children to 18% in upcoming budget.

Published

3 months ago

on

By

Sales tax likely to increase in upcoming budget
GNN Media: Representational Photo

Islamabad: It is proposed to increase and maintain sales taxes on various items in the budget of the next financial year, GNN reported.

According to Federal Bureau of Revenue (FBR) sources, it is proposed to increase the sales tax on imported canned milk for children in the upcoming budget, under which it is likely to be increased from 12% to 18%.

It is stated that government is all set increase the sales tax on canned meat, chicken, fish and other products to 18 percent.

On the other hand, the sales tax on day-to-day items such as tea, sugar, jam and jelly will be maintained at 18 percent. While the tax on soap, surf, dishwashing liquid, toothpaste, toothbrush and mouth freshener is also likely to be maintained at 18%.

Continue Reading

Trending