Thread by @MashwaniAzhar

#TaxFreeBudgetByPTI:
▪ No new Taxes
▪ Tax Reliefs:

▪ All Customs Duties on 1,623 tariff Lines eliminated (20% of raw material imports)
▪ Reduction in Customs Duty on 200 tariff lines (intermediate imported goods/raw material like packaging, rubber, footwear, home appliances)

#TaxFreeBudgetByPTI
Tax Relief:
▪ Regulatory Duty on 166 tariff lines reduced (e.g engineering sector, underground tanks, boilers, structures)
▪ Hot Rolled Coils (HRC) alloy of Iron and steel RD reduced to 6% (from 12.5%) and non-alloy to 11% (from 17.5%)

#TaxFreeBudgetByPTI
Tax Relief:
▪ WHT (Withholding Tax) on raw material imports reduced to 2% (from 5.5%)
▪ WHT on imports of capital machinery to 1% (from 5.5%)
▪ WHT on imports of intermediate goods to 2% (from 5.5%)
▪ FED on cement reduced to 1.75% (from 2%).

#TaxFreeBudgetByPTI
▪ Sales tax lowered for Textile & Leather retail to 12% (⬇️ from 14%)
(on POS integration)
▪ Hotels sector minimum tax reduced to 0.5% (⬇️ from 1.5%)
▪ Further tax: 2% (⬇️ from 3%)
▪ Duties / Taxes exempted on: Diagnostic Kits for #Cancer & #Corona Virus