Government preparing Rs200 billion mini budget
Business
Rs100 billion will be imposed in flood relief levy, same amount in withholding tax
ISLAMABAD (Dunya News) - The government is preparing an order to provide a minibudget of Rs200 billion which is expected to include a flood levy tax of Rs100 billion.
Several steps including the collection of Rs100 billion in withholding tax by ordinance have been considered to impose the tax on non-filers, according to sources in the Ministry of Finance.
According to sources, it is suggested to apply sales tax on petroleum goods at the retail price. However, the Prime Minister will be consulted before any decision is made to raise the petroleum levy rate.
According to sources, the International Monetary Fund (IMF) will send a team to Pakistan after the ordinance is enacted, therefore the IMF wants the ordinance to be in place before the mission arrives.
