Islamabad (Pakistan News Online) In a troubling development for the common man amidst rising inflation, it has been announced that a processed and packaged staple items such as flour, lentils, rice, sugar, and spices will be subjected to an 18% sales tax starting next month.
Senator Saleem Mandviwalla chaired a Senate committee meeting where amendments to the Income Tax Act were discussed.
Representatives of lawyers, including Hassan Mandviwala, noted that a 45% income tax has been imposed on lawyers and chartered accountants in the Finance Bill. Chartered accountants and lawyers are being taxed in a corporate style.
Committee member Farooq H. Naik said that the Association of Persons is not a company. FBR chairman said we have raised the Association of Persons tax. The tax for professionals has been increased to 45%.
Member Income Tax FBR said the revenue from the program was a condition for tax. Saleem Mandviwalla said that everyone’s income tax was raised. Committee accepts the professionals tax increase proposal.
Committee treasurer has suggested that out of country travel for non-filers should be restricted. FBR chairman Amjad Zubair Toor said income tax general order would be issued against tax return non-filers, but Hajj, Umrah, young children, students, and Pakistanis of good character will be exceptions, and mobile sims, electricity and gas connections are planned to be disconnected.
Senator Farooq H. Naik said, “The ban on foreign travel for non-filers should be considered in the Exit Control List (ECL).” FBR chairman said, “In the list of 500,000 non-filers, more than 20 lakh people are paid, in the past these people have shown their income in tax returns, for the time being, the people who have been made in the sales and profit margins of multinational companies. The Zero rating has been completely terminated from the next fiscal year. Local milk is being sold at double the price.”