ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government will present its mini budget in the National Assembly on Tuesday in which it is expected to propose an increase in regulatory and customs tax and suspend tax exemptions to salaried individuals.
Finance Minister Asad Umar will present the Finance Bill 2018 and PTI’s budget recommendations later today. The federal government is expected to propose tax collection that exceeds Rs158 billion by increasing regulatory duty from 5% to 10%, while an increase of 1% is expected on customs duty.
The exemption from taxes granted to salaried individuals by the former Pakistan Muslim League-Nawaz (PML-N) government is also expected to be withdrawn.
Prime Minister Imran Khan – during his visit to Karachi – announced that Umar will present the budget on September 18 (Tuesday). Khan said that elimination of corruption from the country was the first priority of his government.
