Budget for the year 2013-14 will be prepar?ed by the new electe?d govern?ment, says Mandvi?walla.
File photo of Finance Minister Saleem Mandviwalla. PHOTO: FILE
ISLAMABAD:?Finance Minister Saleem Mandviwalla, while talking to the media, said that around 1.5 million people have the National Tax Number (NTN), out of which only 0.9 million pay their taxes, Roznama Express reported Saturday.
On a question about terminating the requirement of NTN while purchasing a car, the finance minister answered that this would not affect the tax collections negatively because people issue NTN while purchasing a new car and afterwards they destroy it.
He also said that the finance ministry was reviewing the flat rates of agricultural tube wells and if they were approved then the subsidies would be allocated promptly.
While talking about the new budget, he said that the federal budget of upcoming year 2013-14 will be prepared by the new elected government and not the caretaker government.
If the new national assembly and elected government came into before the elections, then they will prepare and present the budget.
Otherwise, the caretaker government will prepare the financial document and the interim cabinet will give it temporary ascent whilst its upholding and implementation would be subjected to the final approval of the elected parliament that will come into power after the upcoming federal elections.
Source: http://tribune.com.pk/story/514763/only-0-9m-people-pay-taxes-mandviwalla/
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