Finance Minister (FM) Shaukat Tareen has said data of 1.5 crores non tax payers has been received and they will be integrated into tax net.
He said this while wrapping up budget debate in National Assembly (NA) Friday.
He held a third party audit of FBR in respect of tax payers will be conducted. Legal action will be initiated against tax evaders. 75 paisas tax will be clamped on calls beyond 5 minutes. Decision for imposing tax on mobile phone and internet has been withdrawn. Targeted subsidy will be afforded to low income groups. FBR will not be allowed to harass the citizens.
He went on to say PTI was left with no other option except approaching IMF because the loan amount stood at 26000 billion. IMF imposed harsh conditionalties.
Imran Khan took difficult decisions in 2018-19, he said adding he promoted construction industry and other industries despite corona virus. Pakistan growth rate increased to 4 percent. Decision has been taken to give benefit of this growth rate to the poor masses.
He underlined loan free of interest will be provided to poor people on account of house building. Real estate tax has been curtailed from 25 percent to 15 percent. Tax imposed on milk and curd has been done away with. Tax on imported eggs has been abolished. Tax has been taken back on medical equipment. We are reducing tax on fertilizer and agriculture machinery. We will build agri malls on the products of farming community. The farmers will be able to sell their products at these agri malls.
We will introduce new scheme in the name of my vehicle, he pointed out. We will focus on SMs and will provide loan to them. Tax exemption was given to IT industries. IT industries will carry out exports valuing 8 billion dollars.
He disclosed China was shifting some industries to Vietnam but we succeeded in persuading it and China will now shift industries in Pakistan. These will create job opportunities in millions.
We will have to abolish the role of middle man in agriculture as we have become importing country in agriculture product unfortunately, he remarked.
Now banks will provide loans to small businessmen, he stated. 17 percent tax will stay on gold value addition.
He pointed out 30 billion rupees have been earmarked for Naya Pakistan Housing Scheme. 260 billion rupees have been allocated for Ehsas program.
We have set target for administering corona vaccine to 100 million people till June, 2022., he told the house.
He informed NA that Prime Minister wanted to introduce E voting system. Imran Khan has decided not to scale up electricity tariff as we have to pay Rs 900 billion as capacity payment in energy for those who don’t use electricity.
While concluding budget debate in Senate FM said IMF had demanded to impose tax amounting to Rs 700 billion but we did not accept it. Whosoever pay tax will not be harassed by FBR. Steps will be taken against those who don’t pay tax.
We have authorized every one to asset his own tax. If any mistake is found in its tax amount then he will be informed through third party, he added.
