Senate recommends 114 suggestions in finance bill
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Senate has made 114 suggestions in the finance bill 2021/22 asking the federal government to announce NFC Award and recommended to double the budget for education and health. The upper house has submitted its proposals to the National Assembly, reported 24NewsHD TV channel.
Sources informed 24NewsHD Tv on Friday that Senate has recommended that withholding tax on healthcare be reduced from 8% to 3%. The other recommendations include restoration of GST relief on eatable things, the announcement of NFC Award and no increase in petroleum levy.
In its suggestions, the Senate said that the unfettered powers given to the FBR are unconstitutional. It recommended reforms in the rules to collect taxes. It suggested to end the draconian authority of the FBR of arresting the people.
It also recommended not to impose levy on flour mills and withdraw the decision to impose Rs10 billion income tax on salaried class, medical facilities, provident fund and pension.
It proposed that federal government should give Rs25 billion to Balochistan government for Frontier Corps; double the budget for education and health; exempt edible items from retail tax; fix minimum wage at Rs25,000; grant interest-free loans to small farmers; reduce duty and other charges on imported cosmetics; review decision regarding tax exemption to IT industry; abolish Rs30,000 life time token for small cars having 800cc engine capacity; remove all clauses under Section 203 from the financial bill which allow FBR to arrest traders; slash GST from 17% to 8.5%; reduce GST on edible things from 17% to 8.5%; take back the decision to increase tax on poultry products from 10% to 17%; withdraw 17% tax on gold; abolish identity card condition for sale and no tax be imposed on milk.