KP Govt Increases Naswar Prices In Budget


KP govt increases naswar prices in budget

The tax on naswar will be increased by 50 paisas per kilogram.

Islamabad (UrduPoint / Pakistan Point News – 19th June, 2019) The Khyber Pakhtunkhwa (KP) government has increased the tax on naswar (snuff) in its fiscal budget 2019-20.

The tax on naswar will be increased by 50 paisas per kilogram.

The KP government has set a revenue target of Rs 53.4 billion for the fiscal year 2019-20 that is 54 percent higher than over the revised budget estimates of the current fiscal year.

By the year 2023, the provincial government would collect Rs.100 billion that would be three times higher than the current revenue of the province, adding that the revenue generation would be tax based.

The provincial minister in his budget speech said that primarily they are working on broadening the tax base. But, in fact, they are reducing taxes in may places, only adjusting minor fees for inflation.

The government has proposed to increase the rate of taxation on private companies and businesses.

The 2019-20 budget proposes to impose taxes of Rs27,000 to Rs100,000 per annum on businesses worth Rs10 million to Rs200m, respectively.

Annual tax on marriage halls will be Rs60,000; on restaurants and hotels, Rs40,000.

Similarly, dentists will have to pay Rs15,000 per annum, general physicians Rs10,000, and specialists doctors in Peshawar Rs80,000 per year and in areas other than Peshawar, divisional and districts headquarters Rs50,000 per year.

The budget also proposes a tax of Rs30,000 on CNG and other gas stations. Similarly, Rs325 per acre will be charged against land measuring five to 12 acres.

Those tailors who stitch shalwar kameez suits will have to pay Rs10,000 per year, while those who stitch trousers and shirts will have to pay Rs15,000 annually.

According to the new tax recommendations, Rs40,000 tax will be imposed annually on departmental stores, R10,000 on electronics shops, Rs2,000 on tobacco wholesalers, Rs1,500 to Rs3,000 on fitness clubs, Rs8,000 on service stations, and Rs100,000 on private medical and engineering colleges.