Relief Measures by Government
Tuesday, June 23, 2009
The government has incorporated 18 proposals of the Upper House in the Finance Bill 2009-10 to provide further relief to the masses. Salient features are;
- NFC meeting next month
- Ad hoc relief allowance for civil and armed forces employees in BPS 1-16 revised to 20% from 15%
- 20% increase in net pensions
- NAB budget reduced to Rs 183m
- Carbon surcharge stands withdrawn
- Reduction in WHT to 3% from 4% for industrial imports proposed
- Income tax collected on export proceeds is being made final discharge of liability
- Newsprint import exempted from levy of 16 percent GST. Now it will be subjected to customs duty of 5% only
- Gap between delayed payment of tax and refunds reduced to 3% from 12%
- Additional FED @ 20 paisas/SMS withdrawn. Revenue loss to be compensated by increasing FED on cellular services to 19-1/2 from 19%.
- Requirement of NTN or CNIC for sales to unregistered purchasers withdrawn.
Source: Business Recorder dated 23-06-2009
Labels: Economy and Business, Pakistan Economy
posted @ 11:00 AM,
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