Wednesday , November 13 2019

KHYBER PAKHTUNKHWA kpk budget 2019-20

kpk budget 2019

Khyber Pakhtunkhwa’s Finance Minister Taimur Saleem Jhagra has presented the province’s budget for financial year 2019-20, which has a total outlay of Rs900 billion. provincial income taxes are being increased for the year 2019-20. According to the newly proposed regime, individuals with Rs20,000 to Rs30,000 monthly income will have to pay Rs1,000 per month.

As far as public sector employees are concerned, the provincial government has proposed zero taxation for grade one to six employees of the provincial government. Rs1,000 in tax per month will be charged from the employees of grade seven to 12, Rs1,500 tax per month will be charged from provincial government employees of grade 13 to 17, Rs1,800 monthly tax for grade 18, Rs2,000 for 19, and Rs3,000 for grade 20 officers.

Annual tax on marriage halls will be Rs60,000; on restaurants and hotels, Rs40,000. Similarly, dentists will have to pay Rs15,000 per annum, general physicians Rs10,000, and specialists doctors in Peshawar Rs80,000 per year and in areas other than Peshawar, divisional and districts headquarters Rs50,000 per year.

The budget also proposes a tax of Rs30,000 on CNG and other gas stations. Similarly, Rs325 per acre will be charged against land measuring five to 12 acres.

Those tailors who stitch shalwar kameez suits will have to pay Rs10,000 per year, while those who stitch trousers and shirts will have to pay Rs15,000 annually.

According to the new tax recommendations, Rs40,000 tax will be imposed annually on departmental stores, R10,000 on electronics shops, Rs2,000 on tobacco wholesalers, Rs1,500 to Rs3,000 on fitness clubs, Rs8,000 on service stations, and Rs100,000 on private medical and engineering colleges.

The tax on naswar will also be increased by 50 paisas per kilogramme.

The provincial government announced to increase salaries of public sector employees of grade one to 16 by 10 per cent and grade 17 to 19 by 5pc under an ad hoc relief allowance.