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Tuesday, 23 Jun, 2009 4:36 am

ISLAMABAD : The government has incorporated 18 proposals of the Upper House in the Finance Bill 2009-10 to provide further relief to the masses.

-- NFC meeting next month

-- Ad hoc relief allowance for civil and armed forces employees in BPS 1-16 revised to 20% from 15%

-- 20% increase in net pensions

-- NAB budget reduced to Rs 183m

-- Carbon surcharge stands withdrawn

-- Reduction in WHT to 3% from 4% for industrial imports proposed

-- Income tax collected on export proceeds is being made final discharge of liability

-- Newsprint import exempted from levy of 16 percent GST. Now it will be subjected to customs duty of 5% only

-- Gap between delayed payment of tax and refunds reduced to 3% from 12%

-- Additional FED @ 20 paisas/SMS withdrawn. Revenue loss to be compensated by increasing FED on cellular services to 19-1/2 from 19%.

-- Requirement of NTN or CNIC for sales to unregistered purchasers withdrawn.

Copyright Business Recorder, 2009

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