On Tuesday, Shaukat Tarin -Finance minister presented two bills to put into RS 375 Mini-Budget. It will provide self-reliance to central bank. As opposition terms will make Pakistan economically a slave of the west and its institutions.
Opposition parties made strong protest and Tarin made amendments in sales tax, income tax and federal excise laws to exploit RS 375 billion taxation measures. Rs343 billion sales tax relief that will influence every part of the society, it has suggested income tax relief to those richest persons who own Real-Estate-Investment-Trusts-REITs.
These both bills are serious steps towards fulfilling the International Monetary Funds’s-IMF conditions.
Sales Tax on imported Items:
Sector |
Item details |
New rate |
Old rate |
| Refineries | Petroleum crude oil | exempted | 17% |
| Technology | Mobile phones price:200-350$ | 17% | RS 1740 |
| Technology | Mobile phones price:350-500$ | 17% | RS5400 |
| Technology | Imported Machines for mobile | 17% | 0.0% |
| Technology | Laptops | 5% | 0.0% |
| Engineering | Remeltable scrape | 17% | 14% |
| Energy | Solar Panel | 17% | 0.0% |
| Food | Poultry Sector Machines (feeding etc.) | 17% | 7% |
| Autos | Imported Hybrid Electric vehicle upto 1800 cc | 12.5% | 8.5% |
Sales tax on local items:
| Autos | upto 1000cc | 100000 | 50000 |
| Autos | 1001-2000cc | 200000 | 100000 |
| Autos | 20001cc and above | 400000 | 200000 |
Federal excise duty charges:
| Autos | Imported cars 1001-1799cc | 10% | 5% |
| Autos | Imported cars 1800-3000cc | 30% | 25% |
| Autos | Imported double cabin 4*4 | 30% | 25% |
| Autos | Imported cars >3000cc | 40% | 30% |
| Autos | Locally assembled cars 1001-2000cc | 5% | 40% |
| Autos | Locally assembled cars >2000cc | 10% | 5% |
| Autos | Locally assembled double cabin 4*4 | 10% | 10% |
For more details Click Here.
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