Good news by PESCO for small entrepreneurs in a meeting held on Thursday by a Federal Government. Where it was decided that tax for the PESCO Bill should be fixed for small entrepreneurs. This was announced in presence of Federal Minister for Power Khurram Dastagir and Federal Minister for Finance and Revenue Miftah Ismail.
After the whole day’s analysis, it was ordered by Prime Minister that tax should be fixed for a small-scale businessmen from this year. This is one of the best services any government can provide to its people who voted for them when needed.
As the above proposal is decided and its implementation will take some months. According to Federal Minister for Power Khurram Dastagir the old system will remain the same for the first three months of the current fiscal year while the new system will be implemented after a brief discussion with the government.
According to that decision, the bills of up to RS 30,000 will have a flat tax of up to RS 3,000, and the bills of up to RS 30,001 to 50,000 will have a flat of up to RS 5,000. While the tax will be RS 10,000 for electricity bills worth greater than RS 50,000 to RS 100,000. This would be implemented from 1st July onward.
To make it clear, the above decision is for small business holders with some conditions like
- They must be taxpayers
- They have no remaining bill submissions for 2020 and 2021
If someone has not submitted the bills within the due date, they would be charged double bills. Those who have an unregistered small business or have zero units used that current month should pay the tax of RS 6,000.
Whereas Finance Minister Miftah Ismail has brought some changes to the above scheme. The person with 150 units of bills will be exempted from tax. Miftah Ismail scheme also removed double tax collection from small unregistered traders. His scheme provided immunity from tax assessments, audits, and raids by FBR officials.
Note: As per the FBR report, there are about 900,000 retail shops in Pakistan and the government want to put about 300,000 shops under the tax.
For any queries contact PESCO Helpline
- Also, check your Pesco bill through PESCO bill Calculator.