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    <title>Aaj TV English News - Business &amp; Economy</title>
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    <language>en-Us</language>
    <copyright>Copyright 2026</copyright>
    <pubDate>Wed, 08 Apr 2026 19:11:39 +0500</pubDate>
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      <title>Budget 2022-23: List of new taxes for Pakistanis</title>
      <link>https://english.aaj.tv/news/30288763/budget-2022-23-list-of-new-taxes-for-pakistanis</link>
      <description>&lt;p&gt;&lt;strong&gt;The government announced its budget for 2022-23, the financial year starting in July, on Friday. Here are the highlights of the new taxes and rules that will apply:&lt;/strong&gt;&lt;/p&gt;
&lt;ul&gt;
&lt;li&gt;Advanced tax on vehicles over 1600 cc is proposed&lt;/li&gt;
&lt;li&gt;For vehicles with electric engine, a 2% tax will be levied&lt;/li&gt;
&lt;li&gt;Non-filers will pay 200% tax&lt;/li&gt;
&lt;li&gt;Government proposes increasing the tax on banking companies from 39% to 42%&lt;/li&gt;
&lt;li&gt;Payments made with credit, debit, prepaid cards to be taxed at 1% and the tax rate for non-filers will be 2%&lt;/li&gt;
&lt;li&gt;Proposal to give tax exemption for the import of solar panels&lt;/li&gt;
&lt;li&gt;Proposal to withdraw sales tax on tractors, agricultural implements, wheat and other crops&lt;/li&gt;
&lt;li&gt;Tax exemption cap increased from Rs600,000 to Rs1.2 million annual earning for salaried class&lt;/li&gt;
&lt;li&gt;Behbud Saving Certificate: Maximum tax on profit from these certificates was at 10% and will be reduced to 5%&lt;/li&gt;
&lt;li&gt;Proposal to exempt charitable hospitals on electricity and local supplies&lt;/li&gt;
&lt;li&gt;Ending custom duty on equipment and machinery&lt;/li&gt;
&lt;li&gt;Imported phones to get more expensive with levy between Rs100 to Rs16,000 depending on price&lt;/li&gt;
&lt;/ul&gt;
&lt;p&gt;Those who do not pay taxes in other countries will pay taxes in Pakistan, said Finance Minister Miftah Ismail.&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><strong>The government announced its budget for 2022-23, the financial year starting in July, on Friday. Here are the highlights of the new taxes and rules that will apply:</strong></p>
<ul>
<li>Advanced tax on vehicles over 1600 cc is proposed</li>
<li>For vehicles with electric engine, a 2% tax will be levied</li>
<li>Non-filers will pay 200% tax</li>
<li>Government proposes increasing the tax on banking companies from 39% to 42%</li>
<li>Payments made with credit, debit, prepaid cards to be taxed at 1% and the tax rate for non-filers will be 2%</li>
<li>Proposal to give tax exemption for the import of solar panels</li>
<li>Proposal to withdraw sales tax on tractors, agricultural implements, wheat and other crops</li>
<li>Tax exemption cap increased from Rs600,000 to Rs1.2 million annual earning for salaried class</li>
<li>Behbud Saving Certificate: Maximum tax on profit from these certificates was at 10% and will be reduced to 5%</li>
<li>Proposal to exempt charitable hospitals on electricity and local supplies</li>
<li>Ending custom duty on equipment and machinery</li>
<li>Imported phones to get more expensive with levy between Rs100 to Rs16,000 depending on price</li>
</ul>
<p>Those who do not pay taxes in other countries will pay taxes in Pakistan, said Finance Minister Miftah Ismail.</p>
]]></content:encoded>
      <category>Business &amp; Economy</category>
      <guid>https://english.aaj.tv/news/30288763</guid>
      <pubDate>Fri, 10 Jun 2022 19:16:58 +0500</pubDate>
      <author>none@none.com (Web Desk)</author>
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