Govt announces tax relief for shops consuming below 150 units

ISLAMABAD: Finance Minister Miftah Ismail on Sunday announced relief in tax for shopkeepers who consume less than 150 units of electricity per month.

Addressing a press conference, he said that the government is seeking an annual tax of Rs36,000 from small shopkeepers and stressed that everyone will have to pay taxes.

The finance minister said that more taxes will come into force from the next year and added that industries as well as bankers will have to pay their taxes.

"A ten per cent tax will be imposed on companies that could not export 10 per cent of their output," he said.

Miftah also said that the rupee, which is rapidly depreciating against the US dollar in recent weeks, would see improvement in the next two to three weeks.