Finance Minister Ishaq Dar is all set to present the second budget by the Pakistan Muslim League-Nawaz government in the National Assembly on Tuesday.
The finance bill, which will be tabled in parliament next week, is expected to include Rs535 billion in additional taxes and other administrative measures.
The ambitious new tax measures revolve around three pillars — documenting and taxing the rich, raising the existing withholding tax rates for non-compliant taxpayers, and increasing the income tax share in overall revenue collection.
Officials privy to the budget-making process say these proposals are aimed at offering industrialists a better environment through the lowering of customs duties. But this will not provide any relief to salaried individuals or the common man.
