Sindh Budget 2024-25 Proposes Revising Rates Of Excise Taxes

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Sindh budget 2024-25 proposes revising rates of Excise taxes

Sindh government, in the Budget 2024-25, proposed to revise different taxes and cess collected by Excise and Taxation department under a resource mobilization plan

KARACHI, (UrduPoint / Pakistan Point News - 14th Jun, 2024) Sindh government, in the Budget 2024-25, proposed to revise different taxes and cess collected by Excise and Taxation department under a resource mobilization plan.

The Sindh Chief Minister, Syed Murad Ali Shah, in his budget speech, informed the house that the Resource Mobilization proposals were expected to generate revenue of Rs35,900 million annually.

“Our efforts are focused on taxing the affluent class. We have proposed enhancing the Luxury Tax of different values from Rs150,000 to Rs450,000 on imported cars of different engine capacity ranging from 1500 CC to 3000 CC.

Besides, the amounts of Transfer Fee for different vehicles of capacity ranging from 800 CC to 2001 CC and the existing rates were proposed to be increased within the range of Rs500 to Rs5000.

The government has proposed to revise the rate of Infrastructure Development Cess from current 1.2% to 1.8% and the rate of Professional Tax from Rs500 to Rs2,000.

It was further proposed in the budget 2024-25 that Professional Tax on all petrol Pumps and CNG Stations to be increased from Rs5,000 to Rs20,000.