From the first of July 2021 all government employees to get a 10 per cent ad-hoc relief allowance 

From first of July 2021 pension to get 10 percent raise

From grade 1 to 5 government allowance to get increase allowance to Rs 900 from Rs 400

The minimum wage has been increased to Rs 20000 per month

On 300 active pharmaceutical industries have been exempted from customs duties

On several raw materials used in industries has been either exempted or duties have been reduced

Total incentives due to lowering of duty will amount to Rs 25 billion a year

Tax lowered on warehousing, logistics services and collateral from 8 per cent to 3 per cent

Withholding exempted on Electronic warehouse receipts of PME

The telecommunication sector has been given the industrial status

A special technology Zone would be established aimed at 10 year tax holiday

Imports of capital goods would be duty-free for technology zones

SMEs having a turnover of Rs 100 million per year have to pay a tax of 0.25 per cent

Sme turnover of Rs100 million to Rs250 million tax levy of 0.5 per cent

Government to introduce one-pager tax return document for SME

IT sector would be for freelance and other services

The final regime tax for the IT sector would be 1percent and no question would be asked

Wholesaler and retailers and AOPs minimum tax limit has been increased

The minimum tax level has been raised to Rs 100 million

Proposed that turnover tax and withholding tax will be levied on other sectors which is active payer list

The number of Real-time point of sale in two years will be increased to five lac from 11000 retailers

Propose on individuals and AOPs minimum tax rate to be raised from Rs 10 million to Rs 100 million

Tax rate to be reduced to 1.25 per cent from 1.5 per cent

Every year tax rate will be reduced 

Capital gains tax has been reduced to 12.5 per cent to 15 per cent

Withholding tax on mobile phone reduced to 10 per cent from 12.5 per cent

The tax rate will be reduced to 8 per cent

Federal excise duty has been imposed on usage of over three-minute calls and SMS

Withholding tax on 12 sectors have been removed

Sectors are banking transactions, PSX, margin financing, air travel service, debit and credit cards on overseas buying 

Sales tax on 850 cc cars reduced to 12.5 per cent from 17 per cent

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

The story was filed by the News Desk. The Desk can be reached at info@thecorrespondent.com.pk.

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