Pakistan Federal Proposed highlights Budgets
Govt salary increase 7.5%
Minimum pension retired salaried persons. Rs. 13000/-
Fibre optic cable investment by govt.
Decrease in car transfer n road tax n withholding tax.
CGT increased by 2.5% on share holdings slab wise. e.g. 12.5% on one year holding. 7.5% two to four years.
Tax on deposits increased by 2.5%.
Tax on dividends increased by 2.5%.
0.3% on transfer of non filer bank account holders.
Banking companies no change in tax.
Tax on companies decrese to 32%.
10% income tax on electric bills above 75000/-
Tax on non filer contractors increased by 3%.
Tax on non filer commission agent increased by 3%.
Tax on non filer supplier increased by 2%.
Investment in stock exchange tax credit increased to 15 lacs.
Doubled sales tax on mobile phone.
To enlist the company in stock exchange the tax credit increased to 20%.
Export textile: Same as last year with following changes.
Duty Draw back now 5%.
Refinance loan mark up for short term 4.5% and long term 6%.
Scheme of internship with govt and semi government department for unemployed graduates at an stipend of rs. 12000/-
No interest on loans for solar equipment.
Man dali Merchant: Retailers shop to pay advance tax @ 0.1%
Tax on companies not paying dividends.
Small companies to increase authorized capital to 50 lakhs.
Changes in tax slab of individuals. AOP by introducing five slabs. Max tax 20%.
Salaried person tax 2% on salary between 4 to 5 lakhs.
EXPORTS companies tax deduction to be treated as minimum tax
Custom import duty slab decreased to 2% 5% and 20%.
Fed increased on cigarettes.
Sales Tax increase for unregistered person to 2%.
Sales tax refund to be paid by 31/8/15 of exporters.
Regulatory duty on mobile withdrawn.
Concsessionsly rights of SRO taken away from FBR.
Construction Minimum tax withdrawn of builders.
Supply of sand and bricks exempt from sales tax.
Having capital More than 50 million dollar for power sector industry changed to 25 megawatts.
Solar and wind projects import exempt from tax.
Fish n Rice mills previous tax abolished.
Meat companies tax benefits introduced.
Agricultural machinery import tax decreased to 9%.
Kpk province turnover tax abolished for industry.
DTR exports oil n vegetable quota increased three times.
Man dali Marchant: Company having 500 employees will get1% tax credit.
Pensions employees. Increased by 7.5% and 25% on medical.