Connect with us

Politics

How will the new budget affect the ordinary citizen?

Published

on

 


A person can be seen counting currency in Karachi, Pakistan on June 11, 2021. Geo.tv

The federal government on Friday unveiled a “citizen-friendly” budget with a total expenditure of 8,478 billion rupees and an ambitious fiscal target of 5,829 billion rupees.

But that’s macro-finance. How will the new budget affect the ordinary citizen?

The PTI-led government has decided to introduce an additional 116 billion rupees in the form of income taxes, while providing relief of 58 billion rupees, according to the finance bill released today.

Additional taxes of Rs 215 billion under federal sales tax and excise duty have also been proposed in the bill, while relief of Rs 19 billion is also included.

The bill stipulates that mobile phones worth Rs270 billion can be imported next year. The government will also impose a regulatory tax of Rs 16 billion on imports of mobile phones.

The sales tax on locally assembled cars up to 850cc displacement has been reduced from 17% to 12.5%, while the FED on these cars has been abolished.

Tariffs on imported luxury goods have been increased by an additional 11%, which will increase the price of makeup, shampoos, imported food products and women’s perfumes. The government is seeking to earn 11 billion rupees from this tariff hike.

To promote locally developed electric vehicles, the Federal Bureau of Revenue will reduce the sales tax imposed on them from 17% to 1%.

The finance bill also proposes an increase in the prices of internet packages, mobile calls and SMS.

However, after the Minister of Finance presented the budget, Federal Minister of Energy Hammad Azhar clarified that Prime Minister Imran Khan and the Federal Cabinet had not approved the Fed’s tax on use. Internet data and therefore will not be part of the final version of the finance bill. .

Meanwhile, the tax of Rs1 on phone calls exceeding 3 minutes and the tax of Rs0.10 on each SMS will translate into revenue of Rs100 billion for the government.

Taxes worth Rs 11 billion will also be imposed on online purchases.

FBR also imposed an additional tax of Rs 1 per kg on sugar, while other taxes were imposed on imported cigars and electric cigarettes.

Moreover, in order to avoid the oil crisis, the government decided to build more warehouses to store the oil.

The government has also exempted the tax on paper used for the publication of the Holy Quran.

For industries, the import of raw materials will see a reduction of Rs12 billion in customs duties. For the chemical industries in particular, relaxations worth Rs6 billion are also included in the bill.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]