18pc sales tax proposed on mobile phones, other items in budget 2024-25

ISLAMABAD: The federal government has proposed abolishing sales tax exemptions and concessions on several items, including mobile phones, copper, coal, paper, and plastic scrap.

In his budget speech on the National Assembly floor, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb proposed a standard sales tax rate of 18 percent on these items.

The government also suggested increasing import duties on luxury cars worth over $50,000. Additionally, the budget proposal recommends raising import duties on steel and paper products.

The 18 percent sales tax would be applied to mobile phones, copper, coal, paper, and plastic scrap.

Muhammad Aurangzeb presented Pakistan’s budget for the fiscal year 2024-25, which has a total outlay of Rs18 trillion.

The National Assembly session commenced with the recitation of the Holy Quran, followed by the national anthem. Prime Minister Shehbaz Sharif was also in attendance.