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Sunday June 23, 2024

Agri tax won’t be imposed on small farmers: Mujtaba

By Our Correspondent
May 18, 2024
Punjab Finance Minister Mujtaba Shuja-ur-Rehman (R) chairs the third session of the Cabinet Standing Committee for Legislation and Private Business at the Punjab Civil Secretariat on May 8, 2024. — Facebook/Mujtaba Shuja Ur Rahman
Punjab Finance Minister Mujtaba Shuja-ur-Rehman (R) chairs the third session of the Cabinet Standing Committee for Legislation and Private Business at the Punjab Civil Secretariat on May 8, 2024. — Facebook/Mujtaba Shuja Ur Rahman

LAHORE: Punjab Finance Minister Mujtaba Shuja-ur-Rehman said that rationalising stamp duty and agriculture income tax is crucial at this time; however, small landowners and farmers will not be burdened. The salaried class is paying more taxes than large landowners and it is essential to make wealthy citizens aware of their national responsibilities, he added. Under the Punjab Revenue Authority, a review of 17 services is being proposed to standardise the tax rate.

The Punjab Finance Minister said this while chairing the final meeting of the Cabinet Committee on Resource Mobilisation for the fiscal year 2024-25 in the committee room of the Finance Department on Friday.

The meeting was attended by Provincial Minister for Law and Communication and Works Malik Sohaib Bharath, Secretary Finance Mujahid Sherdil, Secretary Excise and Taxation, Member Board of Revenue, Secretary Mines and Minerals and relevant officers of Livestock and the PRA.

The meeting approved the revised proposals from the tax and non-tax departments to enhance the resources of province. Addressing the meeting, the provincial minister stated that the proposals approved by the Resource Mobilisation Committee will be submitted to chief minister for approval and once approved by the chief minister, these proposals will be included in the Finance Bill for the next fiscal year’s budget.

He directed the tax departments to take all stakeholders onboard regarding the proposed changes in the tax base. He said the registration of vehicles running in Punjab in their respective districts will be made mandatory.

He said the Livestock Department should set a token fee for providing mobile health facilities to animals. A nominal fee for on-site treatment will improve service delivery. He said that revising the royalty on natural minerals produced in Punjab is the province's right. International markets earn significantly more by paying minimal royalties on rock salt and pink salt.

Provincial Minister for Law and Communication and Works Sohaib Bharath defending the proposals of the minerals department, stated that the demand to link the royalty on limestone and argillaceous clay to cement prices is very reasonable. The royalty on coal and other minerals should also be reviewed.