ISLAMABAD: Pakistan Govt began implementing the mini-budget by doubling the Federal Excise Duty on cigarettes beginning on February 14, 2023.
On Tuesday night, the FBR issued SRO 178(I)/2023. It has been learned that the FBR has begun imposing an increased sales tax of 18 percent on imports.
The notification stated that the rate of the federal excise duty on locally produced cigarettes would be Rs 16,500 per thousand cigarettes under the first slab if their on-pack printed retail price exceeded Rs 9000 per 1000 cigarettes.
Under the second slab, the rate of the Federal Reserve would be Rs 5,050 per thousand cigarettes for locally produced cigarettes if their on-pack printed retail price does not exceed Rs 9,000, according to the notification.
Business Recorder was told on Tuesday by sources that the government is authorized to impose regulatory duties and additional customs duty (ACD) on the import of luxury/non-essential items through statutory regulatory orders (SROs) with immediate effect after the federal cabinet approved a mini-budget of Rs 170 billion, without waiting for the President to sign the Tax Laws Amendment Bill 2023.
After receiving approval from the cabinet, the Federal Board of Revenue (FBR) is legally authorized to issue notifications to modify the duty structure at the import stage.
Typically, the sales tax and excise measures take effect on the following day after the president gives his or her approval. They added that notifications can be used to rationalize tariffs.
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