Pakistan Mini Budget 2018 2019 Highlights Discussed in Urdu – Pakistan Budget 2019 Details in Urdu

Last Updated: January 28, 2019
Category: duty
Share this post

Pakistan Mini Budget 2018 2019 Highlights Discussed in Urdu – Pakistan Budget 2019 Details in Urdu

In this video, we discussed Pakistan Mini Budget 2018 2019 Highlights Discussed in Urdu – Pakistan Budget 2019 Details in Urdu

Highlights Of The Mini Budget Pakistan 2018-19

Federal Minister for Finance, Revenue, and Economic Affairs Asad Umar presented a mini-budget 2018-19 on Tuesday in the National Assembly that will be a game-changer for the ongoing financial year.

Tax Exemptions

  • The minister announced to eliminate withholding tax on banking transactions for filers to encourage the tax-paying culture.
  • Asad Umar announced that products for renewable energy will also be exempted from sales tax and customs duty for the next five years.
  • Withholding tax on trading in the stock exchange will also be removed.
  • Duty on import of newsprint paper has been eliminated as well.
  • All machinery in special economic zones exempted from all taxes.
  • New industries to be exempted from income taxes for five years.

Taxes On Income

  • Upto Rs 400,000 – Exempt
  • Rs 800,000 – Rs 12,00,000 – Rs.2,000
  • Rs 12,00,000 – Rs 24,00,000 – 5% fixed tax
  • Rs 24,00,000 – Rs 30,00,000 – Rs. 60,000 fixed tax
  • Maximum tax for salaried class – 25%
  • Maximum tax for non-salaried class – 29%

 

Tax On Non-Filers

  • 0.6% tax to be charged non-cash transactions above Rs 50,000 (up from 0.4%).
  • The ban on non-filers purchasing new assets removed
  • Under the new finance bill, non-filers will now be able to purchase vehicles of up to 1300cc engine capacity after paying higher taxes. Non-filers will only be allowed to buy vehicles that have been locally assembled/manufactured.

 

Items To Become Expensive

  • Duties on 300 luxury items, including luxury cars, imported food, make-up, and high-end mobile phones, to be raised
  • Duties on cigarettes to be raised
  • 20 percent duty placed on 1800cc vehicles
Finance-Amendment-Bill-2019-mini-budget-2018-19-1

 

Download Finance Amendment Bill 2019(mini budget 2018-19)

Related Posts