Summary It proposed reduction of sales tax from 17% to 12%
ISLAMABAD (Dunya News) – Pakistan Tehreek-e-Insaf (PTI) on Thursday presented a shadow budget of thirty eight billion rupees outlay. PTI leader Jehangir Tareen said that sales tax should be reduced to 12% from 17% and an amount of Rs 750 billion should be allocated for development work, Dunya News reported.
According to details, PTI’s central leadership headed by Jehangir Tareen presented the shadow budget in which special focus was laid on key sectors including industrial, agriculture, education, energy, defense and investment.
The budget expressed determination to improve tax collection system and to ‘clean’ Federal Bureau of Revenue (FBR) from politics.
Tareen said that sales tax has been reduced from 17% to 12% in the shadow budget which will enable reduction in prices of diesel and petrol.
The shadow budget has further removed the infrastructure tax whereas corporate tax has been reduced from 34% to 20%. It also earmarks Rs 820 billion for defense that is 17% more than the past.
PTI’s shadow budget has further allocated 750 billion rupees for development work which is 43% more than what was allocated before.
