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Rate of WHT on bank transactions increases to 0.6pc for non-filers

Rate of WHT on bank transactions increases to 0.6pc for non-filers

ISLAMABAD: Federal Finance Minister Asad Umar said that Pakistan Tehreek-i-Insaf led government had only two priorities as it grapples with “difficult times”: protect the poor and support exporters.

He said that government has decided that federal development programme cut by almost Rs250 billion to Rs725 billion, with federal PSDP being target of most of the cuts while budget deficit to be brought down to 5.1 per cent.

Asad Umar said that tax relief granted by PML-N revoked from salaried persons earning more than Rs200,000 per month; tax rates still lower than last year. Rate of withholding tax on banking transactions for non-tax filers increased to 0.6pc. He said that government has also decided expansion of Insaf Sehat Card facility to Fata and Islamabad.