Budget 2014/15

[Hyde]

I got very few of the points.... Retailers do not want to deal with Taxman so it will be taken from their Utility bill.... Some special tax on expensive branded items like shirts, shoes, hand bags....

Basically they will charge taxes from various indirect resources and those who pay taxes can reclaim the paid amount. Those who do not will at least pay something. This is more applicable to middle class to elite class.

For example the Utility Bill you mentioned, Imagine your monthly bill for electricity is 20,000 rupees. You pay sales tax of 7.5% on top of that. If you are a tax payer, you can adjust the tax in your tax returns, those who are not filing tax returns will at least pay something through the bill. It doesn't apply on poor people since their electricity bill is never going to be 20,000.

It is also true for various other methods such as Mobile bills, First/Business Class for Flights. It doesn't apply on economy class so poor are somewhat safe.

I think if you file tax returns you can reclaim/adjust all the amount you have paid indirectly. So it is good idea to raise tax/revenue collection.

 

[VCheng]

what happen with defense budget ?? i hear they are increasing it by 10% ?

Defense budget allocation goes up by 11%.

 

[rockstar08]

Defense budget allocation goes up by 11%.

yuuuuuuuuuuuuuuuuu huuuuuuuuuuuuuuuuuuu as i was expecting

 

[Hyde]

what happen with defense budget ?? i hear they are increasing it by 10% ?

Defense budget was always known. It's been raised from 627 billion rupees to 700 billion rupees.

 

[Amaa'n]

Overall i good budget, i would like to get my hands on that draft though, need to see about tax, custom duty on firearms and automobile

 

[rockstar08]

Defense budget was always known. It's been raised from 627 billion rupees to 700 billion rupees.

Yaar Navy needs some $$ i hope this year they will finalize some major deals ...
and Airforce too ...
any news on how they divide this 700billion ?

 

[Hyde]

Overall i good budget, i would like to get my hands on that draft though, need to see about tax, custom duty on firearms and automobile

raise the tax on vehicle import is a bad idea.

I think it should be friendly so more n more overseas Pakistani have the option to import to Pakistan. Right now, when you think of importing a vehicle to Pakistan, most of us refrains for paying heavy taxes. It seems to have been more difficult

Yaar Navy needs some $$ i hope this year they will finalize some major deals ...
and Airforce too ...
any news on how they divide this 700billion ?

What do you mean how to divide? You mean share of the Army, Navy, Air Force, ISI?

Well last year Army had a share of about 48% if my memory is correct. You hardly see such news about the division of share in the news.

 

[rockstar08]

raise the tax on vehicle import is a bad idea.

I think it should be friendly so more n more overseas Pakistani have the option to import to Pakistan. Right now, when you think of importing a vehicle to Pakistan, most of us refrains for paying heavy taxes. It seems to have been more difficult


What do you mean how to divide? You mean share of the Army, Navy, Air Force, ISI?

Well last year Army had a share of about 48% if my memory is correct. You hardly see such news about the division of share in the news.

yeah share of Army , Navy and Airforce,
ok that make sense that its hard to disclose such info , but do you think is there any possibility for Navy and Airforce to get extra ? as both show their concerns to defense ministry many times, over lack of funds and toys

 

[kbd-raaf]

Budget Speech 2014-15

Thanks.

Looks like a decent budget. Gradual change is the best kind of change. What do Pakistanis feel about the Nawaz Sharif Government?

 

[VCheng]

Thanks.

Looks like a decent budget. Gradual change is the best kind of change. What do Pakistanis feel about the Nawaz Sharif Government?

I think the consensus is that the government is off to a reasonable start, but it is still too soon to tell if they will be able to follow through with their plans completely.

The power sector and its results on the economy will likely be the prime yardstick with which the performance of the government will be judged by the people.

 

[Hyde]

yeah share of Army , Navy and Airforce,
ok that make sense that its hard to disclose such info , but do you think is there any possibility for Navy and Airforce to get extra ? as both show their concerns to defense ministry many times, over lack of funds and toys

With passage of time the share of Air Force seems to be increasing. It doesn't go on our personal preferences, it's just based on the requirements.

 

[SBD-3]

yeah share of Army , Navy and Airforce,
ok that make sense that its hard to disclose such info , but do you think is there any possibility for Navy and Airforce to get extra ? as both show their concerns to defense ministry many times, over lack of funds and toys

Army takes lion's share, then comes AF and Navy is allocated the least amount.

With passage of time the share of Air Force seems to be increasing. It doesn't go on our personal preferences, it's just based on the requirements.

Airforce's procurement programs are either funded by FMS or extra-budget allocations or of course by Chinese soft loans.

 

[rockstar08]

Army takes lion's share, then comes AF and Navy is allocated the least amount.


Airforce's procurement programs are either funded by FMS or extra-budget allocations or of course by Chinese soft loans.

is there any major deals on pipeline for AF ?

 

[SBD-3]

is there any major deals on pipeline for AF ?

We are bound to maintain confidentiality on whatever we know.......but I have no direct link with armed forces so don't know much about their procurement programs.

 

[truthseeker2010]

just 26 billion for health! divide that by 190 million and you get 136 per head.... thats not even equal to one time consultation fee of an average doctor!