A higher charge has been imposed by the federal government on business and club class tickets. The government has proposed raising the excise charge on business and club class tickets for flights to the US and Canada to Rs 1 lakh from July 1, 2024, as stated in Finance Bill 2024-25.
Excise duty on tickets for bouts in the US, Canada, Latin America, and other regions has been raised from Rs. 250,000 to Rs. 350,000, according to the Finance Bill.
The government has suggested raising the excise charge on European travel tickets by Rs 600,000. The excise charge on airfares to Europe will rise from Rs150,000 to Rs210,000 as of July 1.
The excise charge on tickets to Australia and New Zealand was raised by 60,000 rupees. The measure increased the excise charge to 210,000 rupees for flights between Australia and New Zealand.
Additionally, the excise charge on tickets to China, Malaysia, and Indonesia was raised to Rs 210,000. Excise duties on tickets from Middle Eastern and African nations, such as Saudi Arabia and Dubai, have increased by Rs 30,000. There was an excise levy of Rs. 150,000 on tickets to Saudi Arabia, Dubai, and African nations.
To combat tax-related fraud, the Federal Bureau of Revenue (FBR) has chosen to establish the Investigation Wing. Tax fraudsters will be subject to a punishment of Rs 25,000. Furthermore, in cases of substantial fraud, the fine for tax fraud will match the amount of tax evasion. In addition, tax fraud offenders face a five-to ten-year prison sentence.
The Investigation Wing is going to take action against tax fraud. The Tax Fraud Investigation Wing will house an Intelligence team in addition to a team dedicated to legal, accounting, and digital forensics.
The Fraud Wing will be led by the Chief Investigator, and the wing will also include a crime scene section.
