The advance income tax (AIT) on import of some luxury items increased to 20% from 5%
The price of alcohol and some luxury items including perfumes will increase in the local market as the government has decided to raise the advance income tax (AIT) on imports.
The government has already approved the proposal placed by the National Board of Revenue (NBR) to increase the AIT to 20%, which was only 5% earlier.
The AIT is only applicable to the import of goods used for commercial purposes. Consumer goods do not fall under this AIT.