[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The upcoming federal budget (2024-25) will introduce new rates for duties and taxes on black tea imports.
The Federal Board of Revenue (FBR) has presented three proposals to the Finance Minister for approval.
Read more: Advance Tax On Bank Withdrawals Increases July
The aim is to curb evasion of duties and taxes, which amounts to billions of rupees on black tea imports.
The first proposal suggests revising customs values through a new valuation ruling. The second proposal recommends rationalizing customs duty, sales tax, and income tax on tea imports. The third proposal aims to establish a minimum sales tax value for tea to ensure accurate sales tax assessments.[/vc_column_text][/vc_column][/vc_row]
