Federal cabinet approves draft of Finance Supplementary Bill, 2019

Last updated on: 23 January,2019 05:48 pm

The meeting chaired by Prime Minister Imran Khan has concluded.

ISLAMABAD (Dunya News) - Prime Minister Imran Khan chaired a special meeting of the federal cabinet in Islamabad on Wednesday.

The federal cabinet has approved draft of Finance Supplementary Bill, 2019 which will be presented by Finance Minister Asad Umar in the National Assembly today.

The bill is aimed at giving effect to taxation and other financial proposals of the government for the financial year beginning on the first day of July last year.

According to sources, the government has decided to increase taxes on 1800cc luxury cars and imported items by 10% whereas non-filers have been allowed to purchase cars below 1300cc.

The government is also likely to abolish withholding tax on banking transaction for filers.