Review on Finance Minister Asad Umar Finance Supplementary Bill of 2019 on Dunya TV Dunya Kamran Khan Kay Sath (23.01.19)

Review on Finance Minister Asad Umar Finance Supplementary Bill of 2019 on Dunya TV Dunya Kamran Khan Kay Sath (23.01.19)
#PTIReformsPackage

Following are the prominent features of Finance Supplementary (Second Amendment) Bill of 2019

Tax on income from loans to SME sector to be reduced to 20pc.
Agricultural tax will be dropped to 20 per cent.

To provide low-income housing, loans will be decreased to 20 per cent.
Rs5 billion revolving fund (Qarz-e-hasna) will be introduced.

Non-fillers will be able to purchase small and mid-size cars up to 1300CC, but the tax would be increased.

Withholding tax for filers on banking transactions will be eliminated to encourage the culture of paying taxes.

Rs20,000 fixed tax on marriage halls reduced to Rs5,000.
Import on duty for newsprint will be eliminated.

Pilot scheme to be introduced in Islamabad to facilitate traders in filing and paying taxes.

Super tax on non banking companies to be abolished from July 1.

Small businessmen will be submitting withholding tax returns only twice every year, they are exempted from submitting withholding tax returns every month.