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Ishaq Dar While Winding Up The Federal Budget Announces Some Key Measures

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Ishaq Dar While Winding Up The Federal Budget Announces Some Key Measures Which Are:

Limit Of Agri Loans To Small Farmers Increased To Rs 75000 From Rs 50000

Small Farmers To Get Loans Worth Rs 150,000 Per Annum For Two Crops

Sales Tax On Engines Havin Horse Power Of 3 To 36 Has Been Abolished

Custom Duty On Spare Parts Of Engines Have Been Reduced To 3 Percent From 20 Percent

To Promote Islamic Banking Several Steps Were Taken During The Current Government

Investment In Sukkuk Has Been Exempted From Tax If Investment Reaches Up To Rs 20 Lakh

Government Raised The Minimum Wage Of Labourer To Rs 15000 From 14000

Following The Proposal Now For Fy 2017-18 Minimum Wage Increased To Rs 15400

Tax Rate On Five Export Oriented Sectors Have Been Reduced To One Percent From 2 Percent

For Export Oriented Sectors On Tamarind Gum Tax Rate Is Now Zero

All Oil Marketing Companies Would Be Income Tax Free

On Senate Suggestion No Tax Would Be Charged On Oil Marketing Companies

On Senate Suggestion Dealers And Wholesalers Would Be Exempted From Wht Of 0.2% And 0.5%

To Further Promote Agriculture Several Measures Have Been Taken

Sales Tax On Feed Gas Has Been Reduced To 10 Percent From 17 Percent

Sales Tax On Feed Gas Driven From Lng Has Been Reduced To 5 Percent From 17 Percent

Supply Of Fertilizer Has Been Exempted From Further Tax

To Promote Poultry Industry And Value Addition In This Sector Cutoms Duties Have Been Reduced

Custom Duty On Different Products Has Been Reduced To 16% And 11% From 20% And 16% Respectively

To Encourage Investment In Fisheries, Sales Tax Has Been Reduced To 10 Percent On Fish Feed

Customs Duty On Permanent Magnets Used In Dc Fans Now Stands Zero

  • Dividend Income Up To Pkr 2.5 Million From Mutual Fund Investments To Be Taxed At 10%. Higher Amounts To Be Taxed At 12.5%
  • New Rates Of Capital Gains Tax Shall Not Apply On Securities Purchased Before 1St July 2016.
  • Tax On Services Of Pakistan Stock Exchange And Pakistan Mercantile Exchange Reduced From 8% To 2%.
  • For Secondary Market Development, Tax On Listed Derivatives Reduced From 15% To 5% For A Period Of 3 Years.
  • Tax On Importers Of Raw Plastic Reduced To 4.5% From 6% To Avoid Evasion While For Industrial Units Tax Rate Reduced To 1.75% From 6%
  • In Case Of Listed Companies Pay Out Of Less Than 40%, Tax On Surplus Reserves Shall Be Taxed At 7.5% As Against Earlier Proposed Rate Of 10%

To Promote Ecommerce Or Electronic Business Or Trading Entities To Get Cut In Turover Tax And Commission

Turnover Tax For Ecommerce Entitis Have Been Reduced To 0.5% From 1.25%

Tax On Commission Will Be Reduced To 5 Percent From 12 Percent

Posted on: 2017-06-13T18:42:00+05:00

2.82%

Weekly Inflation up