ISLAMABAD: The National Assembly has passed the Finance (Supplementary) Bill 2021— generally known as a “mini-budget” — amid strong protest by opposition parties, ARY News reported on Thursday.The National Assembly also approved the State Bank of Pakistan (Amendment) Bill 2021 during five hours-long session.
The lower house session resumed at the parliament house in Islamabad with Speaker Asad Qaisar in the chair.Prime Minister Imran Khan, Planning and Development Minister Asad Umar, Defence Minister Pervez Khattak and Foreign Minister Shah Mahmood Qureshi also attended today’s all-important session.
Opposition amendments rejectedNational Assembly rejected all the amendments moved by the opposition members with a majority vote. 150 members voted in favour of the amendments, while 168 voted against them.On opposition protest, the NA speaker ordered the vote-count for two times and both times opposition parties faced defeat with 150-168 and 146-163 votes.
It is suggested that persons who appear in ATL on the day of disposal pay a set rate of 15% on gains from the sale of real estate purchased on or after July 1, 2024, regardless of the holding term. Proposed progressive income tax rates would impose a 15% minimum tax on non-ATL persons.
The tax expert said, “For individuals whose names are included on the ATL, a consistent rate of 15% was suggested for capital gains on the sale of assets and on real estate purchased on or after July 1, 2024.” According to him, those who are not on the ATL at the time of acquisition and disposal will not be subject to capital gains that are meant to be taxed as normal income under a minimum tax rate of 15%.
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