Dec 01 , 2015
News
Govt decides to impose Rs40 billion new taxes in 'mini-budget'
ISLAMABAD - Minister for Finance and Economic Affairs Senator Ishaq Dar announced 5-10 percent regulatory duty on 61 imported non-essential luxury items addressing a news conference after presiding over a meeting of the Economic Coordination Committee of the cabinet.
Reportedly, the tax department failed to meet its tax collection targets and now the inflation-hit masses will have to pay for their failure in terms of custom duties and the increase in consumer prices finally. He said that about fiver percent regulatory duty increase will be imposed on 289 imported items and one percent additional customs duty will be imposed on the imported items.
The federal minister said that non-dutiable imports will remain exempted from the duties He also added that increase in duties has been made to meet shortfall of revenue.
Courtesy www.dailytimes.com.pk