FED in range of 2.5% to 7.5% imposed on locally assembled cars
KARACHI: The Federal Budget 2019-20 has proposed Federal Excise Duty (FED) in the range of 2.5% to 7.5% on locally manufactured or assembled motor cars, SUVs and other motor vehicles,…
FED at the rate of 17 percent proposed on edible oils, ghee
KARACHI: The Federal Budget 2019-20 announced on Tuesday has proposed Federal Excise Duty (FED) at the rate of 17 percent on edible oil and ghee. Vegetable ghee and cooking oil…
Sales tax on sugar increased to 17%
KARACHI: Federal budget 2019-20 has proposed to increase sales tax on sugar to 17% from existing 8.0%. Presently Sugar is subject to sales tax at 8%. This sector has huge…
PTI government proposes to rescind SRO 1125
KARACHI: PTI government has proposed to rescind SRO 1125(I)/2011, thus restoring standard rate of 17 percent on import of raw materials by five value added export oriented sectors. SRO 1125(I)/2011…
Income tax slabs for individual, association of persons revised
KARACHI: PTI government has revised the income tax slabs on the income of every individual and association of persons except salaried individuals. Where taxable income does not exceed Rs. 400,000,…
Income tax slabs for salaried class revised
KARACHI: The PTI government has revised the tax slabs for salaried persons vide Finance Bill 2019. Income of an individual chargeable under the head ‘salary’ exceeds 75 percent of the…
Austerity at top, reformation of tax system haul mark of PTI government first budget
ISLAMABAD: PTI lead coalition government silenced an increasingly critical opposition by resorting to austerity at top with federal cabinet deciding to receive salaries slashed by 10 per cent. Expressing commitment…