Key Points of the Budget

Key Points of the Budget

Rs. 92 billion will be recovered through the use of modern technology and not increasing the taxes on individuals Non-filers can buy property now but on a higher (registration ) rate 20% duty on 1800cc cars Ratio of income tax maintained on salaried persons getting up to Rs.200,000 per month For income more than 2400000, 29% highest tax rate for non-salaried and 25% for salaried For PM, Ministers and Governors, exemptions from tax ( on housing allowance, Conveyance and some other allowances ) withdrawn CPEC will be the government’s priority 50 billion for the development of infrastructure of Karachi (public private partnership projects) Total development funding 725 billion in 2018 Petroleum development levy which was increased from Rs189 billion to Rs300 billion,  will be capped at 189 billion, on the earlier level 8276 houses to be built for the laborers, 4.5 billion allocated Fiscal adjustment made @2.1% Total revenue target of FBR 4390 billion (Hammad Azhar Mos Revenue) Super tax maintained Tax on cigarettes increased from Rs. 1 to Rs10 per pack Withholding tax on banking transactions for non-filers to be maintained Sehat card to be issued soon in Islamabad and Punjab.