Government Intr-oduces Taxes Up to 55% on Imported Goods The Finance Bill 2024 has introduced higher taxes on a wide range of imported goods. These taxes vary from 5 percent to 55 percent.
Under the new rules:
– Live fish imports will have a 10 percent tax, while frozen fish will face up to 35 percent.
– Imported milk and cream will be taxed at 25 percent, and curd, butter, and nuts at 20 percent.
– Natural honey imports will now include a 30 percent tax.
Luxury items like imported perfumes, makeup, skincare products, and hair products will face the highest tax rate of 55 percent. Shaving creams and some soaps will be taxed at 50 percent.
For clothing and accessories, there will be a 10 percent tax on items like overcoats, caps, jackets, trousers, and shorts for men. Women’s overcoats, jackets, dresses, skirts, and trousers will also have a 10 percent tax. Items like tracksuits, handkerchiefs, shawls, mufflers, veils, ties, and blankets will be taxed at 10 percent as well.
The tax on waterproof shoes and leather shoes will increase to 20 percent, while wash basins will be taxed at 30 percent, and bathtub/toilet ceramics at 20 percent.
The tax rate on imitation jewelry has been increased to 45 percent.
