Miftah Ismail to withdraw taxes on bills : Pakistan traders and retailers have demanded the government to withdraw the sales tax to be imposed on electricity bills. The proposed in federal budget 2022-23 that a fixed amount of sales tax to be collected from small traders, the minimum amount to be paid 3,000.
“We will charge Rs 3,000 even to those shopkeepers who are not registered with the Federal Board of Revenue (FBR). The tax paid will be full and final. No tax notice will be issued to shops nor will FB
R officers visit their shops,” finance minister Miftah Ismail tweeted.
Miftah Ismail to withdraw taxes on bills : The traders across the country protests against the decision and refused to pay the taxes. After that Finance Minister Miftah Ismail has decided to exempt the small traders with bills of less than 150 units.
The rates of taxes and amount of bills are tabled below.
|Gross amount of monthly bill||Amount of Taxes|
|Not more than 30,000||3,000|
|More than 30,000 but less than 50,000||5,000|
|Exceed 50,000 but less than 100,000||10,000|
Please note that fixed sales tax collected through commercial electricity bills under this rule shall be final and no further liabilities to taxpayers.
The best solution is to install energy alternatives such as solar panels which are not saved taxes but also reduced future utility expenses. It will cost more in the initial stages but will be very cost-effective in the long run.
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