National Assembly Raises Tax Rates on International Airfare

The National Assembly has recently passed a measure as part of the finance bill that will result in higher tax rates on international airfare. This decision will impact individuals traveling to destinations in North America, Latin America, and Canada. The excise duty for business or club class tickets to these regions has been raised from Rs250,000 to Rs350,000.

This move is aimed at generating additional revenue for the government and is part of broader efforts to boost the country's finances. The increase in tax rates on international airfare is expected to contribute significantly to the government's revenue stream.

Travelers planning trips to North America, Latin America, and Canada should be aware of the higher tax rates on airfare. The additional excise duty will add to the overall cost of travel for individuals purchasing business or club class tickets to these regions.

It is important for travelers to stay informed about changes in tax rates on international airfare to avoid any surprises when booking their flights. While the increase in excise duty may lead to higher costs for travelers, it is essential for the government's efforts to strengthen the country's finances.