Friday, August 12, 2022

Senate budget recommendations report presented in the National Assembly

Senate budget recommendations report presented in the National Assembly, 244 recommendations were presented in the report.

217 Recommendations on Development Budget and 27 Other Recommendations, Recommendation to Abolish 17 Sales Tax on Purchase of Pharmaceutical Raw Materials

40 billion should be refunded in terms of sales tax collected from pharmaceutical manufacturers. It is recommended to reduce the tax rate on bakery items from 17 to 7.5 percent. The quantity should be reduced.

FBR manufacturers should be required to make payments through banking channels, sales tax exemption on import of aircraft and their parts should be exempted, the report said. Inclusion recommendation is also included.

The Senate recommendations were sent to the National Assembly yesterday.

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