Excise duty on cigarettes, air tickets, telecom services increased

By: News Desk
Published: 11:17 PM, 10 Jun, 2022
Excise duty on cigarettes, air tickets, telecom services increased
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The coalition government has proposed to increase the excise duty on the local cigarettes, air travel tickets and telecommunication services in the annual budget statement on Friday.

According to the Finance Bill moved by the Finance Minister in the National Assembly, it is proposed to increase excise duty on the club, business and first-class air tickets from Rs10,000 to Rs50,000.

It is proposed to increase excise duty on telecommunication services from 16% to 19.5% and tax on the banks from 39% to 42% as well as increase taxes on the banking companies.

The tax on property purchase and sale for filers is proposed to be increased from 1% to 2%, and in the case of non-active taxpayers, the tax on the purchase of property is proposed to be increased from 100 to 250%.

In the case of non-active taxpayers, it is proposed to increase the tax on vehicle purchases from 100% to 200%.