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KP introduces new taxes, increases ratio of professional tax
APPPESHAWAR: The provincial government of Khyber Pakhtunkhwa has introduced various new taxes including hike in the ratio of taxes on doctors and government employees to increase its revenue receipts in financial year 2014-15.The proposals for the levy of the new taxes, continue, revise and exempt certain taxes, fees, cess and duties in the province were introduced in the Finance Bill, 2014 tabled by Finance Minister Siraj-ul-Haq in the special budget session of the provincial assembly on Saturday.
Under the bill the provincial government has proposed tax on agricultural land under which such land giving an earning over of Rs 0.4 million will have to pay 5 per cent to 17 per cent tax.
Similarly, the ratio of professional tax has also increased under which specialist doctors will have to pay a tax of Rs.20,000 per annum while non-specialists including medical practitioners, hakeems, homeopaths etc will have to pay Rs 2000 per annum and dentists Rs 15,000 per annum. The provincial government has also proposed bringing of the service stations and mobile telephone towers in the tax net under which the service stations will have to pay Rs 10,000 per annum in head of GST while mobile companies will have to pay Rs.40,000 per annum on the towers in provincial headquarters, Rs.30,000 per annum in divisional headquarters and Rs.20,000 per annum at district headquarters. Land tax will also be collected on per acre of agricultural land. The provincial government in its finance bill has also proposed for levy of tax on all government employees from BPS-5 to BPS-22, which will be from Rs 100 to Rs 2000 per annum. However, employees from BPS-1 to BPS-IV have been exempted of the tax. Similarly, tax ratio of wedding halls and other businesses have also been increased.
Rs 626m for mines: For the development of mines and minerals, the KP government has earmarked Rs. 626 million for a total of 16 projects.
These include 8 ongoing with allocation of Rs 333.000 million and 8 are new with allocation of Rs.293.000 million. This was stated by Finance Minister Siraj ul Haq in his budget-2014-15 speech.
He said these include exploration of coal resources in KP, establishment of Mines Monitoring and Surveillance Units, Updation of Mineral exploration data, and exploration and Management of Minerals at Chitral.
To increase mineral sector’s contribution to the GDP by promoting large scale private sector investment, the government has chalked out a police with formulation of an efficient and suitable policy framework for the province, formulation of a competitive regulatory framework based on international best practices, having proper Institutional arrangements in place for efficient management of the Mineral sector and implementation of the mineral policy. The province covers a total area of 75421 sq km out of which 70% contains mountains and rocks. Being a mountainous region, Khyber Pakhtunkhwa has tremendous potential in marble, granite and other decorative stones etc, relating to construction industry. Other resources are nepheline syenite, phosphates, gemstones, and metallic minerals including gold and base metals and variety of other industrial minerals. The department has been making strenuous efforts to explore and develop mineral resources by involving private sector due to huge mineral potential of the province.
Rs 500m set aside for women development: The KP government has allocated Rs 500 million to complete 34 projects for women development in the budget 2014-15.
The projects include 22 ongoing with allocation of Rs 319.102 million and 12 new with allocation of Rs 180.898 Million in the budget. Finance Minister Sirajul Haq in his budget speech said three social welfare complexes will be completed in Charsadda, Swabi and Karak districts, besides school for hearing impaired children at Dir Lower.
Four schools for hearing impaired children will be established at Kohistan, Malakand, Buner &Battagram districts while two Dastakari centres would be setup in each tehsil of the province. Under the Tazeem Lasile Wal-Mehroom project 50,000 patients will be provided free treatment, 7,000 orphan students will be provided stipends and 1400 persons will be trained in different skills. Under Social Welfare and Women Empowerment sector, focus will be laid upon providing social cushion to the deprived and marginalized segments of society especially, women.
In the proposed development plan, the department will mainly continue its ongoing projects which include schemes for the wellbeing and safeguarding of destitute women, orphans, beggars, drug addicts and special persons.
The prominent proposals in the new portfolio are construction of Dar-ul-Kafala in Peshawar, Social Welfare Complex in Bannu, Schools for hearing impaired in Kohistan, Malakand, Buner and Battagram and centres for Mentally Retarded and Physically Handicapped children in Kohistan & Battagram, Welfare Homes for orphans and destitute in Hangu & Swabi. Moreover, under a programme, two dastakari centres will also be set up.
Courtesy www.dailytimes.com.pk