Govt set to deprive salaried employees of tax relief in mini budget

Major amendments might be made to the finance bill in an attempt to increase revenue generation

News Desk September 12, 2018
Finance Minister Asad Umar. PHOTO: EXPRESS/FILE

The government has decided to introduce a mini budget with the  prices of several items expected to rise.

It was decided that major amendments will be made to the finance bill in an attempt to increase revenue generation.

The summary of the mini-budget has been prepared and is set to be presented during the federal cabinet meeting.

After the approval of the summary, the mini-budget will be shared in the National Assembly on September 14.

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Moreover, the government will reduce the annual income tax exemption slab from Rs1.2 million to Rs0.8 million. The move will be a setback for salaried employees.

Cell phones are also expected to become more expensive with regulatory duties set to increase by five percent.

A five per cent duty shall also be imposed on the export of flour with federal government development schemes worth rupees 380 billion, which is yet to be approved, is likely to be scrapped as well.

Sources say that many steps introduced by the previous government will be also be rolled back. They also say that the Federal Board of Revenue (FBR) has prepared a summary for amendments to the income tax ordinance.

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COMMENTS (5)

Muhammad Farhan | 1 year ago | Reply | Recommend This not justice with salaried class as they are already paid handsome amount of Tax to Government. Govt. should try to use other ways for generating money for Taxes instead of shoot salary class as they already under lot of pressure. As a voter, we need a positive action from new Govt to take a appreciable decision for their people. They should tried to return back the corruption money as soon as possible to stand their economy for better future.
Hameed Ajmal | 1 year ago | Reply | Recommend This Govt is doing most injustice to the Salaried person who are the only Honest Tax Paying Class in the whole country.If they can not provide any relief to this class they should not Create problems for these people.Instead of forcing this class they should look at business class and Land Mafia Group who do not show their Salary and live like Lords with their Big Bungalows and fleet of Cars etc.This Class enjoys the big Luxuries of Life without paying any Tax and should be investigated for this problem solving.
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