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June 13, 2013

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Tax rates fixed for cable TV operators

Tax rates fixed for cable TV operators
ISLAMABAD: Finance Minister Ishaq Dar has fixed tax rates for cable TV operators as per Pemra Rules, 2009.
Rs7500 licence fee has been fixed for Category H, while renewal of the licence will cost Rs10,000. Rs25,000 licence fee has been fixed for Category 2 while the renewal of the licence will cost Rs30,000.
Rs40,000 licence fee has been set for Category B-2 and its renewal will cost Rs75,000. Rs75,000 licence fee has been set for Category B-4 while its renewal will cost Rs100,000. Rs87,500 licence fee has been fixed for Category 6 and its renewal will cost Rs175,000.Similarly, a new structure of licence fee has been introduced for all categories of channels.
INCOME FROM RENT: Up to 12.5 percent tax will be imposed on income generated from property rent ranging from Rs2 to Rs3 million annually. Up to 15 per cent tax will be imposed on income generated from property rent ranging from Rs3 million to Rs4 million while 17.5 per cent tax will be imposed on income generated from property rent increasing Rs4 million annually.
NCCBL: According Section AA-233 of NCCBL Tax Law, margin financers or securities lenders will have to pay 10 percent of their interest mark-up profit as tax.
TAX EVASION: It has been decided that anybody informing on a case of tax evasion will be entitled to handsome prize.
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