\u2022 Lawmakers fear access to such data could be misused
\n\u2022 Body okays proposed tax rates for salaried class, calls for more relief
\n\u2022 Finance minister says no room for more concessions this year
\n\u2022 Panel rejects stricter penalties for filers, non-filers in certain cases
\n\u2022 Luxury vehicles above 3,000cc to face 41pc levy
\n\u2022 IT, related services to remain taxed at 4pc; professionals, independent software developers to face 15pc rate<\/p>\n
ISLAMABAD: A parliamentary committee on Fri\u00adday questioned the government\u2019s claim of providing relief to the middle-income sal\u00adaried class, while rejecting a proposal to grant tax authorities access to taxpayers\u2019 bank account data and opposing stricter penalties for taxpayers in certain cases.<\/p>\n
The National Assembly Standing Committee on Finance and Revenue, chaired by MNA Naveed Qamar, approved higher surcharges for late filing of tax returns as well as the imposition of a special excise duty on imported luxury vehicles.<\/p>\n
Following extensive deliberations, the committee finalised its recommendations on the matters considered during the meeting and directed the secretariat to incorporate the approved recommendations into the committee\u2019s report on the Finance Bill, 2026, for presentation before the National Assembly. The Senate committee has already finalised its recommendations and transmitted them to the National Assembly.<\/p>\n
The committee approved proposals to impose a special excise duty on imported luxury vehicles. It supported the proposal that cars with engine capacity between 2,000cc and 3,000cc would attract a 40pc excise duty, while vehicles above 3,000cc would face a 41pc levy.<\/p>\n
Salaried class<\/p>\n
The committee approved the proposed tax rates for salaried individuals amid calls for greater relief for the middle-income group.<\/p>\n
PPP lawmaker Sharmila Faruqui said the 11pc tax on monthly salaries between Rs100,000 and Rs200,000 was excessive. \u201cThis is the middle class, and the rate should be reduced,\u201d she said, while welcoming the government\u2019s overall move to provide relief to salaried taxpayers.<\/p>\n
She pointed out that Rs600bn had been collected from salaried taxpayers this year, while the relief amounted to only Rs50bn. Ms Faruqui termed the relief \u201cinsufficient\u201d and urged greater concessions for the Shahida Akhtar Ali stressed that the middle class was directly affected by the current tax burden, noting that most complaints received were from salaried individuals.<\/p>\n
Mr Aurangzeb said the reduction in super tax would also benefit salaried taxpayers, adding that public feedback had been \u201cpositive\u201d.<\/p>\n
MNA Javed Hanif also criticised the relief measures, saying the middle class had been given \u201cvery nominal\u201d relief. He suggested that super tax should be increased to offset concessions for salaried individuals.<\/p>\n
PPP MNA Hina Rabbani Khar defended the government\u2019s economic direction but questioned whether imposing 18pc sales tax on food items was appropriate in a country like Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u2022 Lawmakers fear access to such data could be misused \u2022 Body okays proposed tax rates for salaried class, calls for more relief \u2022 Finance minister says no room for more concessions this year \u2022 Panel rejects stricter penalties for filers, non-filers in certain cases \u2022 Luxury vehicles above 3,000cc to face 41pc levy \u2022 […]<\/p>\n","protected":false},"author":1,"featured_media":18572,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/18571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18571"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/18571\/revisions"}],"predecessor-version":[{"id":18573,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/18571\/revisions\/18573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/18572"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}