SALIENT FEATURES
SALIENT FEATURES
1. Individuals income exempted upto 12 lacs
2.Tax on individual income from 12 lacs and above will be taxed as per slab which has been decreased.
3.Data mining introduced for new tax payers search.
4.Remittance upto One lac dollar exempt, above this will be investigated.
5.Immoveable assets undeclared the government within six months can purchase by double price to the declarant if not proper.
6.FBR rate for property valuation abolished.
7.Filer tax rate 1% against property sale and purchase.
8.GST exemptions same as per last year.
9.5 Sectors under sro 1125 at 0 rated
10.Exports refund will be paid within 12 months 1/7/2018
11.Corporate tax decreased to 25% upto 2023
12.Real estate investors tax reduced to 7.5%
13.Non Filer bank transactions tax rate reduced to 0.4%
14.Tax audit only once in three year
15.Super Tax to be decrease by 1% each year to end it up.
16.AOP slab decrease to 30%
17.Undistributed profit decrease to 5%
18.Tax on bonus shares abolished
19.Dividend tax decrease to 5%
20.Now with holding on services would be above rs. 30000/- and on supplies above Rs. 75000/-