Islamabad: The government has taken a principled decision to impose a new tax of 170 billion rupees on the International Monetary Fund (IMF) EMA through the Mini Budget Ordinance.
According to the details, the government has decided to impose additional customs duty, regulatory duty on the import of luxury goods in place of flood levy of 60 billion rupees. According to sources, other officials including Ayesha Ghos Pasha and Tariq Bajwa participated in the virtual meeting with the IMF.
According to the sources, increasing the rate of GST by one percent will fetch 60 to 65 billion rupees, 45 billion rupees will be collected by increasing the withholding tax on banking transactions and it is also proposed to increase the federal excise duty on beverages.
Sources said the proposed increase in FED on locally manufactured and imported vehicles and cigarettes is also included.
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