Govt Slashes Solar Panel Tax from 18% to 10%
Islamabad: The federal government has reduced the 18 percent sales tax imposed on solar panels to 10 percent in view of public pressure and concerns of the coalition parties.
Speaking in the National Assembly, Deputy Prime Minister and Finance Minister Ishaq Dar announced that the government has revised some budget proposals and the consultation process is still ongoing.
He said that sales tax on digital services is the province’s authority, and the amount allocated for Sindh universities has also been increased, which has been increased from Rs 2.6 billion to Rs 4.6 billion.
It should be noted that the budget proposed to impose 18 percent tax on solar panels, which was rejected by the Senate Standing Committee on Finance.
Meanwhile, in a meeting of the Senate Standing Committee on Finance, Senator Shibli Faraz recommended eliminating tax on annual income of Rs 1.2 million, declaring a monthly salary of Rs 100,000 as equal to Rs 42,000.
On the other hand, the committee strongly supported taxing the income of clubs. The FBR Chairman said that these institutions are only a source of luxury for the elite and taxing them is mandatory.
