The Finance Bill 2024 has imposed increased regulatory duties on a wide range of imported goods, with rates varying from 5 percent to 55 percent.
According to the new regulations, a 10 percent regulatory duty has been imposed on the import of live fish and up to 35 percent on frozen fish. Imported milk and cream will face a 25 percent regulatory duty, while curd, butter, and nuts will be subjected to a 20 percent duty. Natural honey imports will now include a 30 percent regulatory duty.
The government has imposed a 25 percent duty on imported dates, figs, pineapples, guavas and mangoes; 35 percent duty on cherries, 45 percent on apples and lychees, and 30 percent on imported maize.
Luxury items such as imported perfumes, makeup items, skincare products, and various hair products will be taxed at the highest rate of 55 percent. Shaving creams and various soaps will be charged a 50 percent duty as well.
The Finance Bill 2024 has imposed a 10 percent regulatory duty on clothing and accessories such as overcoats, caps, jackets, trousers, and shorts for men. Meanwhile, the bill also includes a 10 percent duty on imported women overcoats, jackets, dresses, skirts, and trousers.
There is a 10 percent duty on tracksuits, handkerchiefs, shawls, mufflers, veils, ties, and blankets.
The regulatory duty has also been increased on imported waterproof shoes and leather shoes to 20 percent; 30 percent on wash basins, and 20 percent on bathtub/toilet ceramics.
The rate of regulatory duty on imitation jewelry has been raised to 45 percent.
