Economy

Upto 1000cc vehicles exempted from tax, No tax on Mobile Phone SMS: Shaukat Tarin – Richer U R Lower the Tax on Car

There will be no tax on internet or SMS services whereas 75 paisa tax will be deducted on phone calls extending five minutes,Finance Minister.

Ahmed Mukhtar Naqshbandi

Published

June 25, 2021

ISLAMABAD (TTI News) – Federal Minister for Finance Shaukat Tarin has said that upto 1,000cc vehicles were exempted from tax in the federal budget for FY2021-22.

While addressing the National Assembly session on Friday, Shaukat Tarin said that taxes on food items were also omitted. The finance minister said the tax imposed on Information Technology (IT) firms was zero.

“There will be no tax on internet or SMS services whereas 75 paisa tax will be deducted on phone calls extending five minutes,” said the finance minister.

He further said there was no tax imposed on milk, flour and related products. “Furthermore, tax was decreased from 17% to 10% on poultry feed,” he added.

Shaukat Tarin said tax rate was lowered from 35% to 20% on property.

In this article:FBR, Shaukat Tarin

Written By Ahmed Mukhtar Naqshbandi

Media person and communication expert for over 25 years. Worked with Dow Jones News, World Bank, CNBC Pakistan, Aaj TV, ARY TV, Abbtakk TV, Business Recorder, Pakistan Observer, Online News Network, TTI Magazine and other local and world Publications.