Fiance Minister Miftah Ismail has announced to reduce the fixed tax rate of Rs3,000 for non-filers from Rs6000 on electricity bills. Besides exempting consumers whose bills were up to 150 units.
A press release in this regard was issued by the Karachi Chamber of Commerce and Industry (KCCI). While referring to a zoom meeting held between the finance minister, Chairman Businesses Group (BMG) Zubair Motiwala, President KCCI, Muhammad Idress, and Small traders on Monday night.
Several trade bodies have been holding protests against the Rs6000 tax introduced in the Finance Act 2022.
The fiance minister promised to remove all the other taxes from the electricity bills. Once the fixed tax regime is activated to avoid double taxation. Only GST on electricity consumption will be applicable at the year-end. They will require to submit a document to intimate tax authorities about the payment of taxes during the year. He also agreed to consider the demand of small traders when increasing the threshold.