Tag: budget 2021-2022

budget 2021-2022

Budget 2021/2022: Universal Self Assessment Scheme restored; audit cases to be selected on risk-based system

Mrs. Anjum Shahnawaz

ISLAMABAD: Finance Minister Shaukat Tarin on Friday announced to restore Universal Self Assessment Scheme (USAS) in actual form to facilitate tax return filers. While presenting federal budget 2021/2022, the finance minister said that the lynchpin of economic policy would be resource mobilisation, especially tax revenues. We plan to fundamentally restructure the taxation regime and working […]

Continue Reading
budget 2021-2022

Budget 2021/2022: salient features of budgetary measures in Customs Duty

Mrs. Anjum Shahnawaz

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced measures in regime of customs duty. GUIDING PRINCIPLES (a) Remove anomalies in cascading structure of tariff (b) Promote and protect domestic industry by introducing targeted interventions (c) Enhance import-substitution by rationalizing tariffs on industrial raw materials / intermediate goods (d) Facilitate export-oriented manufacturing by […]

Continue Reading
budget 2021-2022

Budget 2021/2022: key features of spending under public sector development program

Mrs. Anjum Shahnawaz

ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022 and allocated Rs900 billion for public sector development program (PSDP). Following are the highlights of allocations PSDP for various ministries and divisions for the fiscal year 2021-22 announced by the Federal Government here Friday: — Total outlay of the PSDP for the fiscal […]

Continue Reading
budget 2021-2022

Budget 2021/2022: salary and pension increased by 10 percent

Mrs. Anjum Shahnawaz

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announce an increase of 10 percent in basic salary and pension of the government employees. While delivering the budget speech for the year 2021-22, Minister for Finance Shaukat Tarin announced that the increase in salaries and pensions of the federal government employees would be applicable […]

Continue Reading
budget 2021-2022

Budget 2021/2022 at a glance

Mrs. Anjum Shahnawaz

ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022. Following is the budget at a glance: Total resources: Rs8,487 billion Total revenue (Federal Board of Revenue): Rs5,829 billion Non Tax Revenue: Rs2,080 billion Gross Revenue Receipts: Rs7,909 billion Less Provincial Share: Rs3,412 billion Net Revenue Receipts (a-b):  Rs4,497 billion Non Bank Borrowing […]

Continue Reading