Non-essential items, luxury goods import: FTO asks FBR to notify enhanced RD rates ‘without delay’

National Budget Proposals 2023:Revolutionary Measures May 17,2022. Non -Technical National Revolutionary Measures: Keeping in view the severe financial crises following measures must be taken to protect our beloved country from unmanageable crises. I. Long term national action plans and policies must be restored as in the past "Five Years Plans" were developed and executed as had been done by earlier governments. Which must be implemented irrespective of change of governments. II. We have to enforce urgent measures impose emergency for restricting import of luxury items like chocolates, drinks, cell phones, diapers, makeup, jewellary, garments, cars ,non essential machinery etc to prevent FOREX. III. All allowances TA / DA, petrol etc of MNAs/ MPAs / Senators must be stopped immediately as they are the richest creature of Pakistan. Likewise for entire top slot of country including judges, President, P.M, Governors, Army Generals etc, all allowances must be banned as these few elites can't be allowed to ruin the poor taxpayers money. IV. To protect agriculture and ensure food security as well as earn FOREX, strategic national agriculture policy must be framed on long term basis .Initially restrictions like agricultural land must be declared a national assets, whereby it must be restricted for agriculture purposes only specially cash crops including mangoes, citrus, dates ,cotton, rice ,edible oil etc, farmers rights of fair price must be ensured. V. There must be at least 10% reserved seats of professionals in National Assembly, Provincial assembly as well as in Senate of Pakistan including economists & Cost Management Accountants so that they may play their technical role in guiding and keeping the national policies on track. Technical Measures: I. Withholding Tax (WHT) regime should be revamped and reduced from existing over twenty-six to five rates preferably only for filers and generally for all. II. WHT should be applicable on inactive taxpayers only. III. WHT rate applicable on services at the rate of 8% to 10% is a minimum tax regardless of the actual taxable income of the service provider. This tax effectively becomes indirect tax and increases the cost of doing business for service providers; hence, tax on services should be made adjustable. IV. Withholding tax deduction u/s 153 (1)(a) which is currently considered as minimum tax for all the suppliers (except manufacturers and listed companies) should be made adjustabl