18 (SUNA) - The Ministry of Finance and Economic Planning has revealed that the draft budget of the year 2018 would not impose any new taxes and the revenues augmentation would be through expansion of
tax umbrella by reaching new supplies.
Government's move to decrease the price of cigarettes in a bid to bring all companies under
tax umbrella was not a solution to the problem," the senator remarked.
We must understand that since all stages of production come under the
tax umbrella, even the prices that vendors charge the firm will be affected.
In fact, it showed that government again failed to bring taxpayers under
tax umbrella, which they had claimed earlier.
Under the proposed regulations, all those involved in the operations from drivers to operators and franchise holders will be placed under various
tax umbrella like income, percentage, withholding and value-added taxes.
Mahmoud announced that the 2015 budget will not contain any new taxes and that instead they will benefit from the recommendations of the tax and customs reform committee especially with regard to broadening the
tax umbrella and improving collection.
The Ministry of Finance is moving towards gradual financial reform through expansion of the
tax umbrella, energy restructuring, and by achieving social justice," he said.
She also revealed that the new legislation proposes to replace the current law, which is based on a positive list of taxable services, with a new negative list of exempt services, thereby widening the scope of services under the
tax umbrella.
The Legislature should reject his plan to move state police patrols back under the gas
tax umbrella.
O'Sullivan welcomed the news that a new funding system is being put in place by means of bringing all online and telephone betting into the betting
tax umbrella.
The provincial government expects that by bringing beauty parlours and other indigenous businesses under the
tax umbrella could bolster its bank accounts by millions of rupees.
He added that onus was on the employer to declare any gifts that they receive, so it falls into the
tax umbrella.
