{"id":66639,"date":"2020-06-12T19:08:59","date_gmt":"2020-06-12T14:08:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66639"},"modified":"2020-06-12T20:12:13","modified_gmt":"2020-06-12T15:12:13","slug":"budget-2020-21-revealed-no-new-taxes-imposed","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html","title":{"rendered":"Budget 2020-21 revealed: No new taxes imposed"},"content":{"rendered":"\n<p>Islamabad: Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction caused by the coronavirus pandemic \u2013 the government has decided to not impose new taxes, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/re-evaluation-of-fbr-rates-immovable-properties-budget-2020-21-inclusion.html\" target=\"_blank\" rel=\"noreferrer noopener\">Re-evaluation of FBR rates for immovable properties on cards for Budget 2020-21 inclusion<\/a><\/p>\n\n\n\n<p>For the real estate and construction sector, the minister announced that the period for withholding tax on sale of immovable property has been reduced from five years to four years. Additionally, the federal excise duty on cement per kilogram is proposed to be slashed from PKR 2 to PKR 1.75. Under the Section 236-A, advance tax is to be collected at the time of property auction. The tax for such transactions is proposed to be paid in instalments \u2013 provided that the payment of such properties is already divided to be payable in instalments. Furthermore, PKR 30 billion has been allocated for the Naya Pakistan Housing Scheme (NPHP) in the new<a href=\"https:\/\/www.zameen.com\/news\/govt-present-budget2020-21-today.html\" target=\"_blank\" rel=\"noreferrer noopener\"> budget<\/a> proposal.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/budget2020-21-imposition-luxury-tax-villas-farmhouse-expected.html\" target=\"_blank\" rel=\"noreferrer noopener\">Budget 2020-21: Imposition of Luxury tax on villas, farmhouse expected<\/a><\/p>\n\n\n\n<p>Azhar said the government is focused on relaxing laws to provide relief to the taxpayers. As for the Computerised National Identification Card (CNIC) condition, the government has extended the purchase limit from PKR 50,000 to PKR 100,000 to facilitate traders. The retail tax for those retailers who are registered with the Federal Board of Revenue\u2019s Point of Sale (POS) system might be offered a decreased tax rate of 12%, the minister announced.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction caused by the coronavirus pandemic \u2013 the government has decided to not impose new taxes, according to news sources. Read: Re-evaluation of FBR rates for immovable properties on cards for Budget 2020-21 inclusion For the real estate and construction sector, the minister announced that the period for withholding tax on sale of immovable property has been reduced from five years to four years. Additionally, the federal excise duty on cement per kilogram is proposed to be slashed from PKR 2 to PKR 1.75. Under the Section 236-A, advance tax is to be collected at the time of property auction. The tax for such transactions is proposed to be paid in instalments \u2013 provided that the payment of such properties is already divided to be payable in instalments. Furthermore, PKR 30 billion has been allocated for the Naya Pakistan Housing Scheme (NPHP) in the new budget proposal. Read: Budget 2020-21: Imposition of Luxury tax on villas, farmhouse expected Azhar said the government is focused on relaxing laws to provide relief to the taxpayers. As for the Computerised National&hellip;<\/p>\n","protected":false},"author":75,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013,15015,15017],"tags":[31732,15023,31733],"persona":[],"class_list":{"0":"post-66639","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"category-legal-taxation","9":"category-notices-announcements","10":"tag-budget-2020-21-revealed-no-new-taxes-imposed","11":"tag-slider","12":"tag-tax-on-immovable-properties","13":"cat-15013-id","14":"cat-15015-id","15":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Budget 2020-21 revealed: No new taxes imposed - Zameen News<\/title>\n<meta name=\"description\" content=\"Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction\" \/>\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\/budget-2020-21-revealed-no-new-taxes-imposed.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2020-21 revealed: No new taxes imposed - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.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=\"2020-06-12T14:08:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-12T15:12:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png\" \/>\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\/png\" \/>\n<meta name=\"author\" content=\"Hazafa Hasan\" \/>\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=\"Hazafa Hasan\" \/>\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":"Budget 2020-21 revealed: No new taxes imposed - Zameen News","description":"Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction","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\/budget-2020-21-revealed-no-new-taxes-imposed.html","og_locale":"en_US","og_type":"article","og_title":"Budget 2020-21 revealed: No new taxes imposed - Zameen News","og_description":"Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction","og_url":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.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":"2020-06-12T14:08:59+00:00","article_modified_time":"2020-06-12T15:12:13+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png","type":"image\/png"}],"author":"Hazafa Hasan","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Hazafa Hasan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html"},"author":{"name":"Hazafa Hasan","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/422fcc128fcaf82dae8406d1cf62a52b"},"headline":"Budget 2020-21 revealed: No new taxes imposed","datePublished":"2020-06-12T14:08:59+00:00","dateModified":"2020-06-12T15:12:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html"},"wordCount":252,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png","keywords":["Budget 2020-21 revealed: No new taxes imposed","slider","tax on immovable properties"],"articleSection":["Construction","Legal &amp; Taxation","Notices &amp; Announcements"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html","url":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html","name":"Budget 2020-21 revealed: No new taxes imposed - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png","datePublished":"2020-06-12T14:08:59+00:00","dateModified":"2020-06-12T15:12:13+00:00","description":"Federal Industries and Production Minister Hammad Azhar has presented the budget proposal for fiscal year (FY) 2020-21, and amid the economic contraction","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/budget-2020-21-revealed-no-new-taxes-imposed.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"Budget 2020-21 revealed: No new taxes imposed"}]},{"@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\/422fcc128fcaf82dae8406d1cf62a52b","name":"Hazafa Hasan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/Avatar-Icon-96x96.jpg","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/Avatar-Icon-96x96.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/Avatar-Icon-96x96.jpg","caption":"Hazafa Hasan"},"description":"Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.","url":"https:\/\/www.zameen.com\/news\/author\/hazafa"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/66639","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\/75"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=66639"}],"version-history":[{"count":2,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/66639\/revisions"}],"predecessor-version":[{"id":66641,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/66639\/revisions\/66641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/64102"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=66639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=66639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=66639"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=66639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}