Summary Prices of warm jackets, coats, shoes and bags shall escalate as a result of the increase in taxes
ISLAMABAD (Dunya News) – Sources indicate that the federal government is planning to impose taxes worth more than Rs 150 billion upon the public through the upcoming budget of fiscal year 2016-17. Mini-budget presented on December 1, 2015, shall also be merged into the federal budget for the next year, reported Dunya News on Saturday.
The Rs 40 billion worth taxes that were part of last year s mini-budget have also been added in the upcoming budget along with additional taxes which are around Rs 26 billion, resulting in increase in the prices of basic items, including soap, toothpaste, make-up products, cellular phones and eatables.
Furthermore, custom duty shall be increased on imported milk, butter, dry milk, imported chicken, fish, tin fruits, olive oil etc. The prices of warm jackets, coats, shoes and bags shall also escalate as a result of the increase in the taxes. Additional excise duty will have to paid on cigarettes as well.
