{"id":65770,"date":"2020-05-21T10:00:00","date_gmt":"2020-05-21T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65770"},"modified":"2020-05-20T16:11:22","modified_gmt":"2020-05-20T11:11:22","slug":"fixed-covid-19-tax-proposed-budget-2020-21-inclusion","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html","title":{"rendered":"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion"},"content":{"rendered":"\n<p>Lahore: United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21, a news source reported. He added that the government should levy this tax on the undocumented economy.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/no-new-taxes-introduced-budget-2020-21-hafeez-sheikh.html\" target=\"_blank\" rel=\"noreferrer noopener\">No new taxes to be introduced in Budget 2020-21: Hafeez Sheikh<\/a><\/p>\n\n\n\n<p>Malik recommended that the government should try to increase the value of the rupee by reducing the cost of raw material imports. He said that this measure would make the output of national industries more competitive. He further asked for the import substitution industry to be encouraged and urged the government to ban the import of luxury goods.<\/p>\n\n\n\n<p>The UBG chairman suggested that the government should promote local industries with low-cost inputs, zero duties on raw materials, and no sales tax for at least two years. Similarly, he said that the bank rate on interest on credit should remain 10% or lower for at least the next two years.<\/p>\n\n\n\n<p>For the documented economy, Malik proposed a decrease in income and sales taxes; although, he did ask that people continue to pay their due taxes even in these trying times. He added that there should be a minimum number of new development plans in order to encourage tax incentives.<\/p>\n\n\n\n<p><strong>Read<\/strong>:<a href=\"https:\/\/www.zameen.com\/news\/imf-proposes-additional-taxes-worth-pkr-575bn-budget-2020-21.html\" target=\"_blank\" rel=\"noreferrer noopener\"> IMF proposes additional taxes worth PKR 575bn under Budget 2020-21<\/a><\/p>\n\n\n\n<p>Finally, Malik highlighted that the government should prioritise the restoration of the national economy, as well as the industries and sectors that produce various necessities of life.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21, a news source reported. He added that the government should levy this tax on the undocumented economy. Read: No new taxes to be introduced in Budget 2020-21: Hafeez Sheikh Malik recommended that the government should try to increase the value of the rupee by reducing the cost of raw material imports. He said that this measure would make the output of national industries more competitive. He further asked for the import substitution industry to be encouraged and urged the government to ban the import of luxury goods. The UBG chairman suggested that the government should promote local industries with low-cost inputs, zero duties on raw materials, and no sales tax for at least two years. Similarly, he said that the bank rate on interest on credit should remain 10% or lower for at least the next two years. For the documented economy, Malik proposed a decrease in income and sales taxes; although, he did ask that people continue to pay their due taxes even in these trying times. He added that there should be a minimum number of new&hellip;<\/p>\n","protected":false},"author":68,"featured_media":63123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[29877],"persona":[],"class_list":{"0":"post-65770","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-fixed-covid-19-tax-proposed-for-budget-2020-21-inclusion"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion - Zameen News<\/title>\n<meta name=\"description\" content=\"United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion - Zameen News\" \/>\n<meta property=\"og:description\" content=\"United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-21T05:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/Taxes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Safina Sultan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Safina Sultan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion - Zameen News","description":"United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html","og_locale":"en_US","og_type":"article","og_title":"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion - Zameen News","og_description":"United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21.","og_url":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2020-05-21T05:00:00+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/Taxes.jpg","type":"image\/jpeg"}],"author":"Safina Sultan","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Safina Sultan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html"},"author":{"name":"Safina Sultan","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512"},"headline":"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion","datePublished":"2020-05-21T05:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html"},"wordCount":253,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/Taxes.jpg","keywords":["details on Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html","url":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html","name":"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/Taxes.jpg","datePublished":"2020-05-21T05:00:00+00:00","description":"United Business Group (UBG) Chairman Iftikhar Ali Malik on Tuesday proposed a fixed \u2018COVID-19 tax\u2019 for inclusiom under Budget 2020-21.","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/Taxes.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/Taxes.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512","name":"Safina Sultan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","caption":"Safina Sultan"},"description":"Safina Sultan is a Content Developer at Zameen.com.","url":"https:\/\/www.zameen.com\/news\/author\/safina"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/65770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=65770"}],"version-history":[{"count":2,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/65770\/revisions"}],"predecessor-version":[{"id":65793,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/65770\/revisions\/65793"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/63123"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=65770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=65770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=65770"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=65770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}