Finance Bill 2024-25 with new taxes tabled in KP Assembly
Business
Finance Minister Aftab Alam presented the bill
PESHAWAR (Dunya News) – The Khyber Pakhtunkhwa government on Monday presented Finace Bill 24-2025 in the KP Assembly with numerous new taxes.
Finance Minister Aftab Alam presented the bill in the House.
Opposition Leader Dr Ibad critcising the budget said it had never happened that a provincial government presented budget before the federal government’s budget.
He said the budget was aimed to achieve political motives.
According to the Finance Bill 2024, a tabaco cess of 50 per kg or 3 percent of the invoices will be applicable on Virginia Tobacco while a tax of Rs7.5 per kg was also proposed on the snuff tobacco.
Two percent tax has been imposed on the purchase and sale of plots in the housing society. No tax will be applicable on house less then five marlas.
Coal, nephrite, chromite and graphite produced in a province are also included in tax category. The companies buying tobacco from formers would have to be registered with the excise department.
Private schools, colleges and universities are also brought under tax net as an annual tax of Rs 40,000 to be charged from a primary school per year, Rs 50,000 on middle school and Rs100,000 from high school.
The private universities were also proposed to be brought under tax net and it was proposed that Rs250,000.will be charged from private universities.
A tax of Rs10,000 will be imposed on plots in industrial areas, a tax of Rs 20,000 is proposed to be imposed on service station while a tax of Rs50,000 on petrol pumps and CNG stations.
