Budget 2017-18: Federal govt eyes price hike for more than 1000 items
Withholding tax on bank transactions would also be increased to 0.6pc from 0.4pc.
ISLAMABAD (Daily Dunya) - Federal government is mulling to increase prices of over 1000 consumer items in a bid to collect additional Rs350 billion tax revenue for FY 2017-18.
Sources privy to development revealed that government is all set to hike customs duty on electronics, perfumes, shaving forms, toothpastes, shampoos, creams, biscuits, juices, chocolates, freezer, fridge, water dispenser, fans, satellite dish, and iron items.
Well-informed sources further stated that withholding tax on bank transactions would be increased to 0.6pc from 0.4pc.
Sources further narrated that federal government is eyeing Rs4000 billion budget target for upcoming fiscal year which is around Rs400 billion when compared with previous budget.
Similarly, suggestion is in pipeline to continue super tax for another year. Likewise, Nawaz’s regime is eying 6% GDP for FY2017-18 whereas it is determined to curtail budget deficit to 3.8pc.
