• Friday, Sep 17, 2021
  • Last Update : 06:04 pm

Budget FY22: Alcohol, perfume to become pricier

  • Published at 09:44 pm June 3rd, 2021
perfume
Photo: Afif Sarker

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.

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