Govt Raises GST to 18% on IMF Demand
On Tuesday, the government raised the general sales tax (GST) rate to 18% and imposed higher levies on cigarettes in order to generate Rs. 115 billion out of the expected Rs. 170 billion mini-budget.
Read More: Petrol Price in Pakistan Breaks All Previous Records to Hit All-Time High
The federal cabinet implemented these measures after President Arif Alvi failed to publish an ordinance sent by the government, as the International Monetary Fund (IMF) had imposed a condition for the restoration of the halted $6.5 billion initiative. The IMF requires permanent tax measures, which the government plans to obtain through parliamentary approval.
Read More: Late Night Mini-Budget Implementation Brings Sales Tax Rate Hike
The federal cabinet used its administrative authority to increase the GST rate by 1% to 18% and impose higher federal excise duty (FED) rates on cigarettes, effective from midnight. This marked the first time the government made a significant impact on the tobacco sector through increased taxes on cigarettes.
For more updates, stay tuned to Al Sadat Marketing News.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
