Govt Allows Non-files To Purchase Vehicles, Houses

Presenting the supplementary budget in National Assembly on Tuesday, Minister for Finance Asad Umar proposed to allow non-filers of income tax to purchase vehicles and houses.

ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Sep, 2018 ) :Presenting the supplementary budget in National Assembly on Tuesday, Minister for Finance Asad Umar proposed to allow non-filers of income tax to purchase vehicles and houses.

The previous government had barred the non-filers from purchasing cars and houses on their Names in a bid to increase tax net.

However, the government has proposed to increase the Federal excise duty on all vehicles with engine displacement of 1800cc and above, from existing 10 percent to 20 percent.

Similarly, the minister also proposed to increase Withholding Tax on banking transaction by non-filers from existing 0.4 percent to 0.6 percent as this move would discourage the