Pakistan Cuts Tax for Construction; Keeps Tax on Banks, Oil Cos

Finance minister Muhammad Aurangzeb says govt plans to retain super tax on banks, oil, fertilizer companies in FY starting July.

• He announced tax measures in budget speech to parliament Friday
• Proposes tax on EVs valued more than 20m rupees, says auto policy being prepared
• Proposes to retain concessions on EV cars and bikes
• Plans to cut super tax on income from businesses
• Plans to impose fixed tax for retailers
• Prepares to cut tax on income of salaried people, raises salaries/pension by 7% in FY27
• Proposes tax on exporters to reduce to 1.25% from 2%
• IT exports final tax regime extended ...