Business class air ticket Rs.50,000 Tax Approved

16-Jun-2022 1173

Suggestion For Business class air ticket Rs.50,000 Tax Approved
Description: Great Business Class Flight Deals- Discount Fares tips
The Pakistan government is currently reviewing the finance bill 2022-23 and discussing matters with IMF after receiving some objections.

Business Class Ticket Taxed:

The Senate committee of finance during government meeting discussed that the international air ticket for business class should be taxed further so the suggestion to increase tax of Rs. 10,000 to Rs.50,000 was approved. Book international tickets.
The FBR has stated that those who come under prevailed class should bear the additional tax so therefore now anyone who buys business class ticket from Pakistan will have to pay Rs.50,000 tax.

Disconnection Of Retailers Utility Connections:

During the meeting held by the Senate committee of finance, the FBR had approved to disconnect electric and natural gas connections of those all 29,000 Jewelers and all first grade retailers consisting of more than Rs. 23 lak who have not done registration for sale tax and have not linked their POS(Point of sale) system with them.
Under the meeting held by PPP senator Aslam H Manwandi Wali, it was told to the meeting members that there are 29,000 jewelers out of which only 22,000 have registered their POS(Point of sale) with FBS which is cause of great concern.

First Grade Trader Category:

The tax authority has stated that all those jewelers who are even operating their business in small shops will come under first grade trader category will have to be part of sales tax network due to their trading of precious and expensive and products.
The FBR has further stated that approximately Rs.23 lak traders have been identified under first grade category which are currently non registered so they will taxed Rs. 3000 on basis of Rs. 30,000 monthly electricity bill that will be increased as the electricity bill goes up to Rs.10,000 monthly tax.

Electricity Tax Collection Limit Increased:

Under the meeting held by FBR board the taxes to be collected through electricity bills has been increased to Rs. 50,000 monthly have bee given approval by FBR. Furthermore if big traders do not register themselves with FBR computerized system then their electricity and gas connections can be terminated by FBR.

IMF Concerns for Income Tax:

In the meeting held under Senate Committee it was discussed by the members that IMF has placed certain objections with regard to budget initiatives especially concerning Income tax under which people earning Rs. 12,00,000 annually have been included in the tax net and those earning more annual income will be taxed less.  
Senator Mohsin Aziz has stated that big retailers are being given tax relief that being a political decision while the salaried class who earns less income is also giving more tax. Afterwards the committee has requested further details regarding sales tax for Tier 2 retailers from FBR.

Tax Imposed on Electric Cars:

Concerning issue of imposing sales tax on electric cars, majority of the committee members had rejected implementation of 17% sales tax. The committee has supported the notion of imposing 5-12% tax on 50 kilowatt electric car but the FBR chairman has stated that big electric cars are being requested and small cars are not.
Senator Farooq H. Naik stated that taxes are being imposed on rich and elite class so that poor people could be provided some relief because rich class people create business and provide employment opportunities.

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