Taxes on Milk, Eggs, Flour to be removed

June 26, 2021

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Finance Minister Shaukat Tarin has said that taxes will be abolished on many food items including milk, eggs and flour, while a 75 paisa tax is being levied on cell phone calls lasting more than 5 minutes, but there was will be no tax on SMS and the internet.

Commenting on the budget discussion in the National Assembly, Finance Minister Shaukat Tarin said that when PTI took over the government, it faced a current account deficit, and if it had gone under pressure from the IMF, it would have imposed strict conditions. He said that no increase in Electricity prices will be done. The conditions of the International Monetary Fund would not stop development and Imran Khan would make difficult decisions with courage in difficult circumstances.

Shaukat Tarin said the IMF demanded new taxes of Rs 700 billion and an increase in income taxes of Rs. 150 billion. I stood in front of the IMF and said, “We are trying to introduce taxes” instead of raising taxes. Steps are being taken to collect taxes from tax evaders, record of 1.5 million tax evaders have been collected, harassment of FBR is everyone’s problem, we will not allow harassment of citizens, this time we will not send it to FBR And let’s talk to tax leakage through a third party, and if they still do not agree, we will see if there is a major defaulter and if they do not agree, we should have some powers, they are arrested worldwide in this matter.

Shaukat Tarin said that they will introduce a new system in the name of ‘My car’, instead of 800CC cars, taxes are being lowered on 1000 cc category, there will be no tax for SMS and internet, 75 paisa tax for calls more than 5 minutes. As part of the construction package, the income tax rate was reduced to 20%, the value added tax for gold would be 17%, the tax on gold and silver was increased to another 3%, the e-commerce tax was abolished, for registered and unregistered electronic companies there will be zero tax – the 2% registration tax will be reduced and taxes on fertilizers, agricultural implements, etc. will be reduced.