FBR prepares draft of finance bill

FBR has prepared the draft of the finance bill in which proposals for imposing additional taxes on online businesses in the next budget have been made.

A decision has been made to provide relief to the industrial sector, and a proposal to reduce taxes on real estate.

Budget proposals will be presented to Prime Minister Shahbaz Sharif on May 15, according to sources.

The finance bill will be finalised after approval. Taxes will be imposed on OLX, Daraz, PakWheels, and Zameen.com, according to sources.

Provincial service charges will be collected separately.

The proposals include reducing the monthly tax exemption to 50,000 and providing tax exemption for employees earning a monthly salary of Rs80,000.

A proposal to increase taxes on importing local vehicle engines has been prepared.