Govt likely to withdraw tax exemption for salaried class in mini budget
ISLAMABAD (92 News) – The government has decided to present a mini budget in the coming session of the parliament.
Sources said that the Finance Bill and budget amendments will be presented in the parliament after approval from the federal cabinet.
The proposals of withdrawing the tax exemption for the salaried class, development budget and deduction in the expenditures are under consideration. The previous government had announced the income tax relief.
The new taxes up to Rs 150-200 billion are likely to be introduced in the mini budget. The proposals to increase the extra duty from two percent to three percent on 5,200 items and impose 8-10 percent regulatory on the import of mobile phones are being considered.
After an increase in duty, an extra tax of Rs 40 billion will be collected.