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pakistan

78 percent of Ehsaas digital surveys completed: Dr. Sania Nishtar | Instant News



ISLAMABAD: Special Assistant to the Prime Minister (SAPM) for Social Security and Poverty Alleviation Dr Sania Nishtar on Friday said that Ehsaas’ digital survey will cover every corner of the country until June 2021 for proper identification of the poor, under the umbrella of the Ehsaas Program.

“More than 78 percent of the Ehsaas Program’s digital surveys have been completed to date to enroll underprivileged people to bring them into the social safety net,” he said in an interview with the PTV news channel.

SAPM promises that Ehsaas’ digital survey process will be impartial and merit-based without any political influence, according to Prime Minister Imran Khan’s vision. He urged the media to play their role in creating mass awareness about the survey, adding that the registration of new beneficiaries was dependent on data from the new survey.

Regarding the one-window facility to be eligible under the Ehsaas Program, he said the operation would be inaugurated this year, adding that the Center would facilitate beneficiaries to get information about all Ehsaas benefits and services available to them in one place. The first ‘One Window Ehsaas Center’ opens in Islamabad, which will be a one-stop shop that will integrate all Ehsaas programs under one roof, he added.

SAPM said single window operations centers will also be established in other major cities, which will help Ehsaas Program beneficiaries, in addition to reducing the possibility of duplication. He said the Ehsaas Program was the government’s major poverty alleviation initiative under the vision of PM Imran Khan, which brought positive changes in the lives of the poor and deserving.

He said the government had launched more than 140 programs, policies and initiatives for 14 different mass categories under the Ehsaas Program including the very poor, orphans, widows, homeless, unemployed, poor peasants, laborers, sick people, who are at risk of medical impoverishment. , those who are malnourished, students from low-income backgrounds and poor women and the elderly.

He said that the prime minister just wanted everyone in the country to have enough food and shelter, adding that the prime minister had launched various ‘arrows’ programs. [shelter homes] and ‘Koi Bhokha Na Soye’ [No one should sleep hungry] for the homeless, which has now opened across the country. The government is exerting maximum efforts and resources to bring about positive change in society and ensure the welfare of the poor, he added.

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Car registration revenue jumped 177 percent | Instant News


KARACHI: Withholding tax levies on motor vehicle registrations and transfers surged 177 percent over the past eight fiscal months, the result of additional taxes imposed in February 2021 to prevent “cash,” officials said on Wednesday.

Withholding taxes on new motor vehicle registrations or transfer of motor vehicle ownership increased to Rs1.72 billion during July – February 2020/2021. That compares with Rs621 million in the same period last fiscal year.

The Sindh Excise and Taxation Department collects withholding tax on registration and transfer of motor vehicles on behalf of the Regional Tax Office (RTO) -I Karachi under Section 231B of the Income Tax Ordinance, 2001.

Through the Taxation Law (Amendment) Law, 2021, promulgated in February 2021, a new provision in Article 231B comes into effect whereby an additional tax is imposed on the first sale of a new registered motor vehicle within 90 days.

“Each motor vehicle registration authority at the excise and taxation department must collect an advance tax from buyers of domestically produced motor vehicles who then sell them within ninety days of delivery of the vehicle either before or after registration,” says the amended law. .

The amendments make the collection mandatory of Rs 50,000 as additional tax on motor vehicle sales up to 1000CC, Rs100,000 for cars from 1000CC to 2000CC, and Rs200,000 for four-wheel vehicles 2000CC and above.

Additional tax cuts have been in effect until 30 June 2021.

The provincial excise department also collects motor vehicle tax on behalf of the Karachi RTO-I under Article 234 of the Income Tax Ordinance, 2001.

RTO-I Karachi collected IDR1.04 billion in motor vehicle tax during the first eight months of the current fiscal year compared with IDR1.1 billion collected in the same period last fiscal year, representing a five percent decrease.

The Federal Revenue Council (FBR) has assigned tax collections under a different head to the tax office.

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The rest of the Karachi HBL PSL match had 50 percent of the crowd | Instant News


KARACHI: After obtaining approval from the National Command and Operation Center (NCOC), the Pakistan Cricket Board (PCB) has decided to invite 50 percent of the crowd for the remainder of the Pakistan Super League (PSL) HBL 2021 match.

But the decision to increase the number of spectators for the Lahore leg and play-off will be made after closely monitoring the situation and seeing how fans are following the Covid protocol.

As of Wednesday, only 20 percent of spectators were allowed to witness the live action of the state tent T20 explosion here at the National Stadium.

PCB thanked NCOC for allowing the Board to invite more fans. “We are very grateful to NCOC for allowing PCB to allow up to 50 percent of the audience for all remaining preliminary round matches and up to 100 perecent spectators for the play-offs and finals,” said PCB Chief Executive Wasim Khan.

“ As a starting point, we have decided to immediately increase the audience for all matches in Karachi to 50 percent. However, we will continue to assess how the audience follows and apply the SOPs before we make a decision on crowd attendance for the Lahore leg, ‘Wasim said.

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The income tax rate on merchants was cut to 0.25 percent | Instant News


KARACHI: The Federal Revenue Council (FBR) has lowered the income tax rate for sugar, cement and vegetable oil dealers and sub-dealers to 0.25 percent, sources said on Tuesday.

The tax rate has been lowered through the enactment of the Taxation Law (Amendment) Law, 2021 dated February 12, 2021. FBR sources said before the amendment the tax rate for dealers was 1.5 percent.

The reduction in tax rates has also extended to wholesalers and retailers. Furthermore, concession rates will also cover fertilizers and fast moving consumer goods.

The term ‘fast moving consumer goods’ is defined as consumer goods, which are supplied in retail marketing according to the daily demand of consumers excluding durable goods.

The source said that concessions would only be available if dealers and sub-dealers, wholesalers or retailers were already registered under the Sales Tax Act, 1990 or registered within sixty days of the enactment of the Amendments Act, 2021.

Tax expert at PwC AF Ferguson Chartered Accountants said that sugar, cement and vegetable oil dealers and sub-dealers are allowed to impose a minimum tax rate of 0.25 per cent under section 113 of the Income Tax Ordinance, 2001, provided they are active taxpayers under the terms relevant. from both the 2001 Income Tax Ordinance and the Sales Tax Act of 1990.

Every producer or commercial importer of fertilizer is required to collect taxes in advance from distributors, dealers and wholesalers under article 236G of the Act at a rate of 0.7 percent.

Tax experts say the rate has been lowered to 0.25 per cent if distributors / dealers / wholesalers have registered under the Sales Tax Act, 1990 or registered themselves within sixty days of the entry into force of the Amendments Ordinance, 2021 i.e. by April 11, 2021 .

Those registered after April 11, 2021 will be taxed in advance at a rate of 0.7 percent.

Tax collection under section 236G can be adjusted for dealers, distributors and wholesalers from certain sectors.

The tax incentive comes after tax requests are made against sugar factories. The Karachi Large Taxpayer Office created a tax demand of Rs500 billion against sugar factories during the audit. LTO Karachi has jurisdiction over 29 sugar mills. The tax office began a joint audit of the sugar factory income tax and sales tax in June last year.

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Dividend income tax collection rose 27 percent in July-December | Instant News



KARACHI: Collection of income tax on dividend income has surged by 27 percent during the first half of this fiscal year due to increased profitability of the corporate sector, officials said.

Withholding tax collection on dividend income increased to Rs9.1 billion during July-December 2020/2021 compared to Rs7.17 billion in the same period of the last fiscal year, according to statistics from the Karachi Large Taxpayer Office (LTO).

Karachi LTO officials attributed the increase in tax collection to an increase in the profitability of the corporate sector and an increase in tax rates announced in last fiscal year’s budget. The company’s earnings have increased after the ease of locking down the coronavirus, the official said.

The government decided to lift the lockdown in June 2020 and allow normal industrial and commercial activities. The resumption of economic activity helped the corporate sector book revenue during the first half.

However, officials say that the second wave of the coronavirus pandemic is again threatening corporate profitability in the coming months, which could affect revenue collection. Officials also attributed the increased tax collection on dividend income to the higher tax rates announced in the last budget.

The tax rate is increased to 25 percent in the case of a person receiving dividends from a company where no tax is payable by the company due to income or business loss exemptions or tax credit claims.

However, the withholding tax is set at 15 percent in such cases. Through the Finance Act, the tax cut rate for 2020 has also been increased to 25 percent to address this inconsistency.

Massive growth is seen in the collection of taxes under the head of dividend income for December 2020 which may be attributed to post-lockdown economic activity. This under the head pool posted a 65 percent growth to Rs2.34 billion in December 2020 compared to Rs1.42 billion in the same month last year.

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