Laptops, milk powder, dengue test kits, and kidney dialysis kits are among the items to be cheaper following the announcement of new tax measures by finance minister Abul Hassan Mahmood Ali on Thursday in the proposed budget for the financial year 2024-2025.
Laptop
Customs Duty on laptop imports has been proposed to increase from 5 per cent to 10 per cent. However, the 15 per cent VAT applicable at the import stage has been waived. This will reduce the total tax incidence from 31 per cent to 20.50 per cent.
Milk powder
Local packers are enjoying an unreasonable amount of protection as the difference in total duty on the import of milk powder in packs up to 2.5 kilograms and the import in bulk form is very high. As part of tariff rationalization, it has been proposed to withdraw the existing 20 per cent 聽supplementary duty on packed powdered milk up to 2.5 kilograms.
Dengue Kit
For the past few years, dengue outbreaks have often been seen in the country, and the situation is reaching an alarming level every year. Therefore, the finance minister proposed to issue a new notification in the budget for the financial year 2024鈥�25 to import dengue kits at concessional facilities.
Kidney dialysis聽
The dialysis filter and dialysis circuit are two essential components used in the dialysis of kidney patients. In the budget, the finance minister proposed to reduce the existing import duty from 10 per cent to 1 per cent on the import of these two products.
