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include - APP/View/MagazineArticles/view.ctp, line 54
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/MagazineArticles/view.ctp, line 54]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/MagazineArticles/view.ctp'
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include - APP/View/MagazineArticles/view.ctp, line 54
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/MagazineArticles/view.ctp, line 55]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/MagazineArticles/view.ctp'
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'content' => '<p>The government has implemented a two percent luxury tax on specific services and goods. This decision, announced in the budget for the fiscal year 2023-24 presented on May 29, has now come into effect from July 17.</p>
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include - APP/View/MagazineArticles/view.ctp, line 55
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Undefined index: summary [APP/View/MagazineArticles/view.ctp, line 62]
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Luxury Tax on High-end Hotels and Precious Metals Comes into Force
1 min 2 sec to read
The government has implemented a two percent luxury tax on specific services and goods. This decision, announced in the budget for the fiscal year 2023-24 presented on May 29, has now come into effect from July 17.
The luxury tax will be applicable to high-end hotels and resorts offering services and imported liquors and precious metals. Four and five-star hotels and resorts will now charge an additional two percent to their clients for the services provided, starting from mid-July.
The tax will be imposed on precious metal and stone ornaments, including gold, diamonds, pearls, and gems, valued at over Rs 1 million. For imported alcoholic products, the tax will be levied at the customs point during transportation.
Failure to pay the luxury tax will result in the tax amount being recovered along with a 15 percent annual interest rate. Additionally, individuals or entities responsible for paying the luxury tax are required to submit a statement related to the tax. Failure to submit the statement will result in a fine of 2.5 percent annually until the details are provided.
The implementation of the luxury tax aims to generate revenue for the government and regulate the luxury goods and services sector.
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/MagazineArticles/view.ctp, line 279
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/MagazineArticles/view.ctp, line 279
View::_evaluate() - CORE/Cake/View/View.php, line 971
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