{"id":66771,"date":"2020-06-17T16:29:49","date_gmt":"2020-06-17T11:29:49","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66771"},"modified":"2020-06-17T16:29:51","modified_gmt":"2020-06-17T11:29:51","slug":"punjab-budget-2020-21-businesses-affected-coronavirus-relief","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-budget-2020-21-businesses-affected-coronavirus-relief.html","title":{"rendered":"Punjab Budget 2020-21: Businesses affected by coronavirus get relief"},"content":{"rendered":"\n<p>Lahore: The provincial government on Monday announced tax relief for businesses affected by the ongoing COVID-19 pandemic situation under the Punjab Budget 2020-21 \u2013 which is broadly geared towards reducing taxes, implementing measures to digitise the economy, improving ease of doing business, and promoting the construction industry.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/no-tax-on-health-sector-services-punjab.html\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab Budget 2020-21: Govt proposes 0% tax on health sector services<\/a><\/p>\n\n\n\n<p>The Punjab Budget 2020-21 has reduced stamp duty down to 1% for property transactions \u2013 from the current value of 5%. The government had earlier introduced the reduction in tax rates during the previous fiscal year for a period of 3 months. However, now it has been extended for this fiscal year.<\/p>\n\n\n\n<p>The rate of General Sales Tax (GST) on services has also been decreased from 16% to 5% for restaurants and beauty parlours in case of electronic payments \u2013 while the cash payments will still be taxed at 16%.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/punjab-allocates-pkr-1bn-for-nphp-projects-in-2020-21.html\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab Budget 2020-21: Govt allocates PKR 1bn for NPHP developments<\/a><\/p>\n\n\n\n<p>The government has also proposed reducing the taxes on hotels, caterers, marriage halls among others significantly affected by the coronavirus pandemic and the lockdown imposed to curb its spread. The Information Technology (IT) sector has also seen some relaxation as the taxation rate reduced from 16% to 5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The provincial government on Monday announced tax relief for businesses affected by the ongoing COVID-19 pandemic situation under the Punjab Budget 2020-21 \u2013 which is broadly geared towards reducing taxes, implementing measures to digitise the economy, improving ease of doing business, and promoting the construction industry. Read: Punjab Budget 2020-21: Govt proposes 0% tax on health sector services The Punjab Budget 2020-21 has reduced stamp duty down to 1% for property transactions \u2013 from the current value of 5%. The government had earlier introduced the reduction in tax rates during the previous fiscal year for a period of 3 months. However, now it has been extended for this fiscal year. The rate of General Sales Tax (GST) on services has also been decreased from 16% to 5% for restaurants and beauty parlours in case of electronic payments \u2013 while the cash payments will still be taxed at 16%. Read: Punjab Budget 2020-21: Govt allocates PKR 1bn for NPHP developments The government has also proposed reducing the taxes on hotels, caterers, marriage halls among others significantly affected by the coronavirus pandemic and the lockdown imposed to curb its spread. The Information Technology (IT) sector has also seen some relaxation as&hellip;<\/p>\n","protected":false},"author":57,"featured_media":61600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[32024],"persona":[],"class_list":{"0":"post-66771","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-punjab-budget-2020-21-businesses-affected-by-coronavirus-get-relief","9":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Punjab Budget: Businesses get relief - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The provincial government on Monday announced tax relief for businesses affected by the ongoing COVID-19 pandemic situation under the Punjab Budget 2020-21 \u2013 which is broadly geared towards reducing taxes, implementing measures to digitise the economy, improving ease of doing business, and promoting the construction industry.\" \/>\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\/punjab-budget-2020-21-businesses-affected-coronavirus-relief.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab Budget: Businesses get relief - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The provincial government on Monday announced tax relief for businesses affected by the ongoing COVID-19 pandemic situation under the Punjab Budget 2020-21 \u2013 which is broadly geared towards reducing taxes, implementing measures to digitise the economy, improving ease of doing business, and promoting the construction industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-budget-2020-21-businesses-affected-coronavirus-relief.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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