Decision to impose new taxes of more than 700 billion in the upcoming budget
Islamabad: (UrduLight.com) New taxes of more than 700 billion will be imposed in the budget of the next financial year, with the consultation of the IMF, a target of 9200 billion has been set for the FBR for the next financial year.
FBR will collect 1900 billion more in the next financial year compared to the current financial year, it has been decided to tax more than 30% on mutual funds, real investment trusts for non-filers.
A finance bill has been prepared according to which the budget will increase the withholding tax on imported luxury goods, it has been decided to double the withholding tax for non-filers doing property sector transactions.
Similarly, the withholding tax will be increased on those who buy and sell prize bonds for non-filers, the withholding tax on the purchase and sale of plots will be doubled for non-filers.
