The Federal Board of Revenue (FBR) has issued a notification implementing increased regulatory duties on a wide range of imported goods as part of the Finance Bill 2024.
The revised duties, which range from 5% to 55%, are aimed at curbing imports and boosting local industries.
Key changes include:
Food Items
- Live fish imports now face a 10% duty, while frozen fish imports are subject to up to 35% duty.
- Imported milk and cream are taxed at 25%, with curd, butter, and nuts facing a 20% duty.
- Natural honey imports will see a 30% duty, and imported dates, figs, pineapples, guavas, and mangoes will face a 25% duty.
- The duty on imported cherries has been set at 35%, while apples and lychees are taxed at 45%. Imported maize now faces a 30% duty.
Cosmetics and Personal Care
- Perfumes, makeup products, skincare items, and hair colours will face the highest duty at 55%.
- Shaving cream and various soaps are now taxed at 50%.
Clothing and Apparel
- A 10% duty has been imposed on imported men's overcoats, caps, jackets, trousers, and shorts.
- The same 10% duty applies to imported women's overcoats, jackets, dresses, skirts, and trousers.
- Track suits, handkerchiefs, shawls, mufflers, veils, ties, and blankets will also be subject to a 10% duty.
Footwear and Accessories
- Increased regulatory duties have been applied to imported waterproof footwear and leather footwear.
Household Items
- Imported wash basins, bathtubs, and toilets will also face increased duties.
Luxury Goods
- The regulatory duty on imported jewellery has been raised to 45%.
These increased duties are part of the government's strategy to balance trade deficits and encourage domestic production. By making imports more expensive, the government hopes to promote local industries and reduce the country's dependency on foreign goods.
