ISLAMABAD: Finance Minister Muhammad Aurangzeb has rejected the protest against the salaried class and has said that the salaried class cannot move forward without taxing the non-filers banana tax rate of 45% so he thinks the term filers is also Pakistan. It’s me.
He said this while holding a post-budget press conference in Islamabad. Minister of State for Finance and Energy Ali Pervez Malik, Chairman FBR Malik Amjad Zubair Towana, and Secretary Finance Imdadullah Bosal were also present with him.
Before the start of the press conference, all the conference participants protested against the Finance Minister for taxing billions of rupees on the salaried class and demanded the Finance Minister reduce the unfair burden of taxes on the salaried class.
The finance minister said that the tax-to-GDP rate of 10 percent is unacceptable, the tax-to-GDP rate should be increased to thirteen percent in the next two to three years. The second principle of the budget is to document the economy. Yes, talking about the performance of FBR, indeed, compliance has not been achieved, it is moving towards digitization by minimizing human intervention.
He said that moving towards progressive taxation, the principle of higher tax has been adopted on those with higher income, and the tax rate has been increased to 45% for non-filers, this initiative aims to make the three Think four times that the term filers are also in Pakistan, we are going to eliminate non-filers from the country
He said that the budget has been presented on five basic principles, petroleum levy has been fixed at Rs.
He said that six lakh income exemption has been maintained in the salaried class and the maximum tax rate of 35% has been kept for the salaried class, but the tax rate has been changed in the tax slabs.
He said that the tax will apply to retailers from July and the work on this scheme is ongoing.
