Hefty taxes imposed on importing foreign content: Fawad

ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain said that in order to protect the rights of Pakistan’s film industry and artists, heavy taxes have been imposed on importing foreign dramas and casting foreign models in advertisements under Finance Amendment Act.

No tax was enacted on cinema and film production machinery under the new act, the minister said in a Tweet on Friday.

فنانس ترمیمی ایکٹ میں جہاں ایک طرف سینما اور فلم پروڈکشن کی مشینری پر ٹیکس نہیں ہے وہیں غیرملکی ڈرامہ درآمد کرنے اور اشتہارات میں غیرملکی ماڈلز لینے پر بھاری ٹیکس عائد کیا گیا ہے اس کا بنیادی مقصد پاکستان کی فلمی صنعت اور فنکاروں کو تحفظ فراہم کرنا ہے

— Ch Fawad Hussain (@fawadchaudhry) December 31, 2021

Earlier, Chaudhry said the government, in the supplementary Finance Bill-2021, had suggested Rs71 billion tax on imported items that were used by the elite class.

Read more: Cabinet approves Finance Bill 2021, will be tabled in NA today: Fawad

“In the Rs350 billion tax, the actual tax is Rs71 billion which has been imposed on imported goods. The rich people have been taxed, while tax refund has been given on the items used by the common man,” the minister said in a tweet.

Responding to PML-N leader Shahbaz Sharif’s query about a tax refund, the minister said it was meant to promote the ‘documented economy’ instead of ‘black economy.’

350ارب روپےکے ٹیکس میں اصل ٹیکس صرف 71 ارب روپے کا ہے جو امپورٹڈ اشیاء پر ہے امیر لوگوں پر ٹیکس لگایا گیا ہے عام آدمی کے استعمال کی اشیاء پر ٹیکس ریفنڈدیا گیا ہے۔شہباز شریف کا استفسار ہےکہ ٹیکس واپس کرنا ہےتو لگایا کیوں؟اسلئے کہ بلیک اکانومی کے بجائے دستاویزی معیشت کو فروغ مل سکے

— Ch Fawad Hussain (@fawadchaudhry) December 30, 2021

Read more: Supplementary Finance Bill: Tarin claims common man to bear only Rs2bn new taxes

A special committee of the cabinet on Thursday approved the ‘Finance (Supplementary) Bill, 2021’ which was presented in the National Assembly at 4 pm during which Finance Minister Shaukat Tarin presented a mini-budget to meet certain conditions of the International Monetary Fund (IMF).

The mini-budget aims to impose an extra burden of taxes on the public to meet the requirement agreed with the International Monitory Fund (IMF).