Business

Small traders to face tax hike on power bills

KARACHI: Government will increase taxes by five to seven percent on power bills on nearly a million small traders, ARY News reports.

The taxes have been imposed with enforcement of the new Finance Act.

An additional tax of five percent, apart from the 17 percent sales tax, will be taken on small traders that pay upto Rs. 20,000 per month whereas the businessmen whose power bills exceed Rs. 20,000 will have to pay an additional tax of 7.5 per cent.

The recovery of the tax will begin with the bills of the upcoming month.

Economic experts said that the additional tax may be a cause of hike in inflation rate in the country.

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