LAHORE, Jun 13 (APP): Provincial Finance Minister Dr
Aisha Ghaus Pasha on Monday presented the Punjab Finance Bill
2016 during the Punjab Assmebly session with Speaker Rana
Muhammad Iqbal Khan in the chair.
The Finance Bill 2016 will be effective from July 1,
2016.
Following is the text of the Punjab Finance Bill 2016:
“A Bill to levy, alter and rationalize certain taxes,
fees and duties in the Punjab.
It is necessary in public interest to levy, alter and
rationalize certain taxes, fees and duties in the Punjab;
and, to deal with ancillary matters.
Be it enacted by Provincial Assembly of the Punjab as
follows:
1. SHORT TITLE, EXTENT AND COMMENCEMENT:- (1) This Act may
be cited as the Punjab Finance Act 2016.
(2) It extends to whole of the Punjab.
(3) It shall come into force on the first day of July
2016. (II of 1899):
(a) in section 27-A, in subsection (1) , for the
expression Articles 23,27-A, 31, 33 Or 63”, the
expression “Articles 23, 27-A, 31, 33, 48 (b), 48(bb), 63
or 63-A” shall be substituted;
(b) in section 29:
(i) in clause (f), the word “and” shall be omitted;
(ii) in clause (g), for the full stop, a semi colon shall
be inserted; and
(iii) after clause (g), as amended, the following new
clauses (h), (i), (j) and (k) shall be inserted:
“(h) in the case of a contract chargeable with stamp duty
under Article 22-A of Schedule I, the stamp duty
shall be payable by the contractor in whose favour
the instrument is executed;
(i) in the case of a decree, rule of a court or an order
of a court chargeable with stamp duty under Article
27-A of Schedule I, the stamp duty shall be paid by
the beneficiary of the decree, rule or order;
in the case of a gift chargeable with stamp duty under
Article 33 of Schedule I, the stamp duty shall be paid by
the person in whose favour the instrument is executed;and
(k) in the case of transfer of right or interest
relating to an immovable property chargeable with stamp
duty under Article 63-A of Schedule I, the stamp duty
shall be paid by the person in whose favour the transfer
of the right or interest relating to an immovable
property is made”.
(2) In Schedule I, at Sr.No. 48:
(a) in clause (b), for the words “Three percent of the
amount of the consideration”, the words “Three
percent of the amount calculated according to the
value notified by the District Collector” shall be
substituted; and
(b) in clause (bb), for the words “Twelve hundred
rupees”, the following shall be substituted:
“(a) Twelve hundred rupees in case the Power of Attorney
is executed between spouses or between one wife or
widow and another wife or widow of the same husband,
or between father, mother, son, daughter,
grandparents, grandchildren or siblings and
(b) two percent of the value calculated according to the
value notified by the District Collector in all
other cases,”.
3. Amendment in Act V of 1958.- In the Punjab Urban
Immovable Property Tax Act, 1958 (V of 1958):
(a) in section 2, after clause (a), the following new
clause (aa) shall be inserted:
“(aa) “buildings and lands’ include vacant plots or a parcel
or portion thereof having fixed boundaries intended for
specific purposes including residential,commercial or
industrial use”.;
(b) in section 4:
(i) in clause (d), the following Explanation shall be
inserted and shall be deemed always to have been so
inserted;
“Explanation.- The expression “buildings and lands or
portions thereof” shall mean the buildings and lands or
portions thereof owned by the Government or by a body owned
or controlled by the Government:;
(ii) for clause (i), the following shall be substituted:
“(i) One residential house or vacant plot, measuring an
area not exceeding five marla, used or to be used for
residential purpose except a residential house or vacant
plot with annual value of more than five thousand rupees
situated in a part of a rating area and categorized as
category-A area.”; and
(iii) after clause (i), the following clause (j) shall be
inserted:
“(j) a vacant plot whose possession is handed over to the
owner for the first time and remains vacant or without
construction for a period not more than two years from
date of delivery of possession.
Explanation.- If possession is handed over to any owner,
the period of two years shall be reckoned from that date
even if the plot is transferred to a subsequent owner.”;
(c) in section 5-A, for the full stop, a semi colon shall be
substituted and thereafter, the following proviso shall
be inserted:
“Provided that the annual value of a vacant plot shall be
in accordance with the valuation table notified for
respective locality of the rating area.” and
(d) after section 16, the following section 16-A shall be
inserted:
“16-A. Registering authority to ensure payment of tax:-
The authority responsible for registering an instrument
of sale, gift or exchange or immovable property shall not
register the instrument unless it is satisfied that the
outstanding tax has been paid.”.
4. Amendment in Act X of 1958.- In the Punjab Entertainment
Duty Act, 1958 (X of 1958), in section 3-A, in the Table,
at Sr. No. 2, in column 2, for the word “Circus”, the
words “Circus, well of death, swing and magic shows”
shall be substituted.
5. Amendment in Act XXXII of 1958.- In the Punjab Motor
Vehicles Taxation Act, 1958 (XXXII of 1958):
(I) in section 3:
(a) in subsection (1), for the full stop at the end, a
colon shall be substituted and thereafter, the following
provisos shall be added:
” Provided further that if so opted by the owner of a
tricycle propelled by mechanical power (motor
rickshaws), the tax may be paid in lump sum once for all
at the rate specified in the Schedule of this Act.
Provided further that if so opted by the owner of a motor
vehicle having engine capacity exceeding 1000cc but not
exceeding 1300cc, the tax may be paid in lump sum for a
period of three years at the rate specified in the
Schedule of this Act.”;
(b) in subsection (3), for the word “July”, the word
“August” shall be substituted;
(2) in section 4, in subsection (2) in the Table, after
Sr.# 6, in columns 1 to 3, the following entries at
Sr.# 7 shall be inserted:
ÚÄÄÄÄÂÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÂÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄ¿
³”7. ³ For periodic lump sum ³ At any time” ³
³ ³ payment of the motor ³ ³
³ ³ vehicle. ³ ³
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(3) in the Schedule, at S.No.3, in clause (a), in column 3,
for the expression “Rs.400/-“, the expression “Rs.400/-
per annum or Rs.3,000/- lump sum once for all if so opted
by the owner” shall be substituted.”.
6. Amendment in Act of XIV of 1973. In the Punjab Finance
Act, 1973 (XIV of 1973), in Second Schedule, in Serial
No. 9, in clause (c), for paragraph (ii), the following
shall be substituted:
“(ii) exceeding 1000cc but not 2% of the value
exceeding 1500cc of the vehicle
(ii) exceeding 1500cc but not 3% of the value
exceeding 2000cc of the vehicle”
7. Amendment in section 6 of Act VI of 2010.- In the Punjab
Finance Act, 2010 (VI of 2010), in section 6:
(a) in subsection (3), the word “or power of attorney”
shall be omitted; and
(b) in subsection (4), clause (c) shall be omitted.
8. Amendments in Act XLII of 2012);
(a) in section 10, subsection (4) shall be omitted;
(b) in section 14, after subsection (2), the following
subsection (3) shall be inserted:
“(3) Where a person or class of persons is required to
withhold or deduct full or part of the tax on the
provision of any taxable service or class of taxable
services and either fails to withhold or deduct the tax
or having withheld or deducted the tax, fails to deposit
the tax in the Government treasury, such person or class
of persons shall be personally liable to pay the amount
of tax to the Government in the prescribed manner.”;
(c) for section 16, the following shall be substituted:
“16. Deduction and adjustment of tax on inputs to the
business.- (1) A person required to pay tax under this
Act shall be entitled to deduct from the payable amount,
the amount of tax payable or already paid by him on the
receipt of taxable services exclusively used in
connection with the taxable services he provides, subject
to the condition that he holds a true and valid tax
invoice not older than six tax periods, showing the
amount of tax charged under the Act on the services so
received, but the Authority may disallow or subject to
additional conditions may restrict such deduction in
cases or with respect to taxable services or goods
specified in section 16A or section 16B or the rules.
(2) The Authority may, subject to section 16A or section
16B or to such conditions and restrictions as may be
prescribed, allow registered persons to claim adjustments
or deductions, including refunds arising as a result
thereof, in respect of the tax paid or payable under any
other law in respect of any taxable service or goods or
class of taxable services or goods used in connection
with the taxable services such persons provide.
(3) For purposes of subsection (2), the Authority may
adopt the principles or concepts laid down in such other
law in respect of adjustments, deductions or refunds
including zero-rating principle.
(4) For purposes of subsections (1) and (2), the amount
of tax to be deducted or adjusted shall not include any
amount of additional tax, default surcharge, fine,
penalty or fee imposed or charged under this Act or any
other law.”
(3) after section 16, the following sections 16A AND 16B
shall be inserted: “16A. Certain transactions not
admissible.- (1) Subject to subsection (1), notwithstanding
anything contained in this Act or any other law for the time
being in force, payment of the tax amount for a
transaction exceeding value of fifty thousand rupees,shall
be made by a crossed cheque drawn on a bank or by crossed
bank draft or crossed pay order or any other crossed
banking instrument showing transfer of the amount of the
sales tax invoice in favour of the service provider from
the business bank account of the service recipient.
(2) Online transfer of payment from the business account
of service recipient to the business account of service
provider as well as payments through credit card shall be
treated as transactions through the banking channel,
subject to the condition that such transactions are
verifiable from the bank statements of the respective
service recipient and the service provider.
(3) The service recipient shall not be entitled to claim
input tax credit, adjustment or deduction, or refund,
repayment or zero-rating of tax under this Act if payment
for the amount is made otherwise than in the manner
prescribed in subsection (1), provided that payment in
case of a transaction on credit is transferred within one
hundred and eighty days of issuance of the tax invoice.
(4) The amount transferred in terms of this section shall
be deposited in the business bank account of the service
provider; otherwise, the service provider shall not be
entitled to claim input tax credit, adjustment or
deduction, or refund, repayment or zero-rating of tax
under this Act.
Explanation.- For purposes of this section, the term
“business bank account” means a bank account utilized by
the registered person for business transactions, declared
to the Authority in their prescribed manner.”
16B. Tax credit not allowed.- (1) Notwithstanding
anything contained in this Act or the rules, a registered
person shall not be entitled to claim input tax
adjustment in respect of;
(a) capital goods (plant, machinery, equipment and
others) not exclusively useable or used in providing
taxable services;
(b) goods and services already in use on which the tax
is not paid, or,where paid, the input adjustment has been
taken before the commencement of the Act or where the
input related goods and services were purchased or
acquired before such commencement;
(c) utility bills not in the name of registered person
with reference to his registered premises unless evidence
of consumption is produced in the matter of such claims;
(d) the tax claimed as input tax on services where such
tax amount has not been deposited by the supplier or the
service provider or where the evidence of such payment is
not produced;
(e) carry forward of the input tax adjustment relating
to the period prior to the commencement of the Act;
(f) goods and services received against
false,fake,forged,flying,untrue,unreal or unrelated
invoices or against purchases from the persons black
listed or suspended by the Authority or by the Federal
Board of Revenue or by any other Provincial authority;
(g) goods and services liable to a tax rate lesser than
sixteen per cent of the charges or to a specific rate of
tax not based on value when used for providing or
rendering any service;
(h) goods and services used or consumed in a service
liable to a rate of tax lesser than the sixteen per cent
of the charges or to a specific rate of tax not based on
value;
(i) vehicles including three and two wheelers;
(j) food, beverages, garments,fabrics or others and
consumption on entertainment, amusement, recreation or
enjoyment;
(k) gift and giveaway;
(l) goods or services used or to be used for any purpose
other than for taxable supplies made or to be made by
him;
(m) goods and services acquired for personal or non-
business consumption;
(n) goods and services not related to the taxable
supplies made by the registered person;
(o) goods and services in respect of which input tax
adjustment is barred under the respective federal and
provincial sales tax law;
(p) sales tax paid to the Federal Government or any
other Provincial Government for supply of goods or
provision of services, if the sales tax law of the
Federation or the Province concerned does not allow
adjustment of tax paid under this Act;
(q) from the date to be notified by the Authority,such
goods and services which, at the time of filing of return
by the buyer, have not been declared by the supplier in
his return;
(r) further tax, extra tax and value addition tax levied
under the Sales Tax Act, 1990, and the rules or
notifications issued thereunder;
(s) goods used in, or permanently attached to,
immoveable property, such as building and construction
material, paints, electrical and sanitary fittings,
pipes, wires,cables,glass products and furniture,
furnishings, office equipment, excluding those directly
used in the economic activity or registered persons
paying sales tax at a rate of not less than sixteen per
cent; and
(t) such good or services as are notified or specified
by the Authority to be inadmissible for input tax
adjustment.
(2) No person other than a registered person shall make
any deduction or reclaim input tax in respect of taxable
services made or to be made by him.
(3) Notwithstanding anything contained in any other law
for the time being in force or any decision of any court,
for purposes of this section, no input tax credit shall
be allowed to the persons who paid fixed tax under the
provisions of this Act or under the respective federal or
provincial sales tax law.”;
(d) in section 35, after subsection (1), the following
subsection (1A) shall be inserted:
“(1A) A statement, in the prescribed manner, filled by a
person who is only obliged to withhold or deduct tax,
shall be treated as a return of that person, provided
that such a statement shall not be a substitute for the
return required to be filed by a person providing taxable
services.”;
(e) in section 48, in subsection (2), in the Table, in
S.No.2, in column 3, for the word “five”, the word “ten”
and for the word “hundred”, the words “two hundred” shall
be substituted;
(f) In section 60, in subsection (1), in clause (b), the
expression “exceeds one million rupees, but” shall be
omitted;
(g) in section 70, in subsection (1), after the words
“the officer of the Authority”, the expression “appointed
under section 39” shall be inserted;
(h) in First Schedule, at 9809.0000, in column 2, for
the word “work”, the word “works” shall be substituted;
and
(i) in Second Schedule:
(a) at S.No.1, in column 2, for the existing entry, the
following shall be substituted:
“Services provided by hotels, motels, guest houses,
marriage halls and lawns (by whatever name called)
including pandal and shamiana services, catering services
(including all ancillary/allied services such as floral
or other decoration, furnishing of space whether or not
involving rental of equipment and accessories) and clubs
including race clubs and their membership services
including services, facilities or advantages, for a
subscription or any other amount, to their members.”;
(b) at S.No.2:
(i) in column 2, for the existing entry, the following
shall be substituted:
“Advertisement on television and radio or advertisement
services showcasing of any product or service in video
programmes, television programmes or motion pictures or
music albums, excluding advertisements:
(a) sponsored by an agency of the Federal or Provincial
Government for health education; or
(b) financed out of funds provided by a Government under
an agreement of foreign grant-in-aid; or
(c) conveying public service message, if telecast on
television by the World Wide Fund for Nature (WWF) or
United Nations Children`s Fund (UNICEF). “; and
(ii) in column 3, for the existing entry, the following
shall be substituted:
“9802.1000, 9802.2000 and respective headings”;
(c) at S.No.12:
(i) in column 2, for the existing entry, the following
shall be substituted>
“All kinds of advertisement services including
advertisements on hoarding boards, pole signs and sign
boards and on closed circuit TV, websites or internet,
advertisements through brand activation in any mode,
advertisement on moving vehicles, aerial advertising,
advertisement through provision of space or time, or on
bill-boards, public places, buildings, conveyances, cell
phones, automated teller machines, or through offering
product exclusivity in any manner.”; and
(ii) in column 3 , the following shall be inserted:
“9802.3000, 9802.5000,
9802.9000 and respective headings.”;
(d) at S.No.14, in column 2, for the existing entry, the
following shall be substituted:
” Construction services and services provided by
contractors of building (including water supply, gas
supply and sanitary works), roads and bridges, electrical
and mechanical works (including air conditioning),
horticultural works, multi-discipline works (including
turn-key projects) and similar other works but:
EXCLUDING:
(i) Where the tax is otherwise paid by registered
persons as property developers, builders or promoters for
building construction; or
(ii) where the construction work is funded under an
agreement of foreign grant-
in-aid or involves construction of consular building; or
(iii) rsidential construction projects where the covered area
does not exceed 10,000 square feet for a house and 20,000
square feet for an apartment ecept where construction services
are provided to construct more than one house or more than one
apartment building.”
(e) at S.No.15, in column 2, the words “exculding actual
purchase value or documentedc cost of land” shall be omitted;
(f) at S.No.16, in column 2, for the word “work”, the word
“works” shall be substituted;
(g) at S.No. 31: (i) in column 2, after the world “support
services”, the words “including business auxiliary services”
shall be inserted; and (ii) in column 3, for the existing
entry, the following shall be subtituted: “9805.9200
9805.9090 and(h) at S.No.39:
(i) in clumn 2, after the words “or cleaning services”, the
words “including collection and processing of domestic waste
and street cleanign services” shall be inserted; and
(ii) in column 3, for the existing entry, the folowing shall
be substituted: “98.22, 9860.0000 and respective headings”
(i) at S.No.47, in column 2, after the word “conduit”, the
expression “, transmission lines” shall be insterted; and
(i) after S.No. 59, in columns 1 to 4, the following new
entries 60, 61 and 62 shall be added:
ÚÄÄÂÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÄÂÄÄÄÄÄÄÄÄÄÄÄÄÂÄÄÄÄÄÄÄÄÄÄ¿
³60³ Services provided ³ 9847.0000 ³ Sixteen ³
³ ³ by cosmetic and ³ and ³ percent ³
³ ³ plastic surgeons ³ respective³ ³
³ ³ and hair transplant³ headings ³ ³
³ ³ services but: ³ ³ ³
³ ³ Excluding: ³ ³ ³
³ ³ Services provided ³ ³ ³
³ ³ to acid or burn ³ ³ ³
³ ³ victims. ³ ³ ³
³61³ Services provided ³ 9833.0000 ³ Sixteen ³
³ ³ by warehouses or ³ and ³ percent ³
³ ³ depots for storage ³ respective³ ³
³ ³ including cold ³ headings ³ ³
³ ³ storages. ³ ³ ³
³ ³ ³ ³ ³
³62³ Services provided ³ 9819.1400 ³ Sixteen ³
³ ³ by packers ³ 9833.0000 ³ per ³
³ ³ including handling ³ 9841.0000 ³ cent” ³
³ ³ and packaging ³ and ³ ³
³ ³ services. ³ respective³ ³
³ ³ ³ headings ³ ³
³ ³ ³ ³ ³
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9. Amendmnts in Act XXX of 2015. In the Punjab Infrastructure
Development Cess Act 2015 (XXX of 2015), in section2, for
clsuse (k), the following shall be substituted:
“(k) “value” means the vlaue of goods being imported or
exported, and determined by and officer of customs for
purposes of the Customs Act, 1969, provided that in case of
goods manufacctured, produced or consumed in Pakistan, the
value shall be determined by refreence to the value determined
under the Sales Tax Act, 1990 for purposes of levey and
payment of sales tax.”
10. Tax on imported motor cars. (1) Subject to this section, a
one-time tax on the imported motor cars registered afater 30
June 2016 as mentioned in clumn 2 of the Table shall be levied
at the rate mentioned in column 3 thereof:
Sr.No Category of imporated motor car Rate of Tax
(a) Motor car with engine capacity exceeding Rs 70,000
1300cc but not exceeding 1500cc.
(b) Motor car with engine capacity exceeding Rs150,000
1500cc but not exceeding 2000cc.
(c) Motor car with engine capacity exceeding Rs200,000
2000cc but not exceeding 2500cc.
(d) Motor car with engine capacity exceeding Rs300,000
2500cc
Explanation. In this section, the term “motor car” means a
motor car as defined in the Provincial Motor Vehciles
Ordinance, 1965 (XIX of 1965).
(2) The Goveernment may, by notification, exempt and lass of
vehicles fromt he levy of the tax under this section.
(3) The tax under this section shall not be levied on a motor
car owned by the Federal Government, the Government or any
other provincial Government.
(4) The Government may, by notification in official Gazette,
make rules to carry out puroposes of this section.
Statement of Objects and reasons
(a) Stamp duty @ 3% is being charged on the value of immovable
property in case of transfer of a right or interest in housing
sector i.e. cooperative housing societies/ private housing
societies etc. However, valuation tables notified by the
Districat Collector under section 27-A is not applicable on
such transfers. In order to safeguard and public revenue, it
is proposed that Article 63-A of Schedule-I of the Stamp Act,
1899 meant for transfer of a rightr or insterest relating to
an immovable property may by inserted in section 27-A of the
Act ibid so that th assssment of the land may by made
according to be valuation table.
(b) Section 29 of the Stamp Act, 1899 imposes responsibility
as to who shall pay the stamp duty at the time of execution of
the instruments. However, the instruments of constract
(Article 22-A), Decree, Rule of a Court or an ORder of a Court
(Article 27-A), Gift (Article 33) and transfer of a right or
interest relating to an immovable property in cooperative
housing societies etc. (Article 63-A) are not included in
section 29 of the Stamp Act, 1899, which causes ambiguity
regarding the responsibility to pay the stamp duty. In order
to remove this ambiguity, it is proposed that the Article Nos.
i.e. 22-A, 27-A, 33 & 63-A of Schedule-I may be included in
section 29 of the Act ibid.
(c) At present, stamp duty @ 3% is being charged on the
insturment of Power of Attorney if the same is executed for
consideration by valuation tables are not applicable.
Similarly, stamp duty of Rs. 1200/- per instrument is being
charged when the Power of Attorney is executed for authorizing
the agent to sell the property. The same rate of stamp duty is
proposed if the Power of Attorney is executed for
consideration but the value shall be calulated according to
the valuation table notified by the District Collector
concerned. Moreover, the rate of 1200/- is proposed to be
substituted @2% of the value of the property according to the
valuation table if it is executed between prsons other than
spouses of between one wife of widow and another wife of widow
of the same husband, of between father, mother, son, daughter,
grandparents, grandchilding of siblings, For the purpose
Article 48(b), 48 (bb) of Schedule I of the Stamp Act, 1899 is
proposed ;to be inserted in Section 27-A of the Act ibid. so
that the value of the property may be assessed according to
the valuation table notified by the District Collectors under
Section 27-A of the Stamp Act, 1899. This amendment shall
discouage purchasers to register Power of Attornerys instead
of registering sale deeds.
(d) Government intends to levy property tax on vacant plots in
order to increase tax base of the property tax, check
speculative tarde of real estable and improve supply of
housing by discouraging retention of vacant plots of long
periods of time and to strengthen local government tax base.
The tax on vacantplots will be levied after two years of
delivery of possession to the owner. Moreover, the provision
relating to exemption of building and lands used exclusively
for educational purposes is proposed to be clarified by adding
an Explanation.
(e) To provide less expensive entertainment to the lower
strata of the soceity, entertainment duty is proposed to be
withdrawn from petty entertainments such as well of death,
swings and magic shows.
(f) It is proposed to rationalize registration fee on vahicles
and to provide ease to the taxpayers through lump sum and
periodic payments.
(g) The Government proposes to levy with effect from 1 July
2016 a tax on imported motor cars above 1300 CC: the rate of
tax shall be different for different categories of motor cars.
(h) Currently the rate of Capital Value Tax on Power of
Attorney is Rs.100/- per square foot, which is creating
hardship for the public due to heavy taxation. To rationalize
levy of taxes on power of attorney, it is being proposed that
the Stamp Duty @ 2% may be levied and Capital Value Tax on
“Power of Attorney” may be abolished at the same time.
(i) The operational experience gained by PRA during the
preceding financial year has led to the propsal of some
technical amendments in the Punjab Sales Tax on Services Act,
2012. The technical amendments relate to encouraging the use
of banking channels, input tax credits, rationalization of
pecuniary penalties for recovery provision. The proposed
amendments will furather streamline the application of the Act
and incase the efficency of PRA and facilitation of the
taxpayers.
(j) In order to plug compliance gaps arising out of the
diversities of services tax tariff interpretations,
descriptions of a few taxable services has been made
consistent with their definition provided in the relevant
rules so that any ambiguity is removed and taxpayers have a
clearer understanding of their tax obligations. Besides, three
new services have been included under the tax net. These
services include services provided by cosmetic and plastic
surgeons and hair trasnplant servies, services provided by
warehouses and cold storages and related packaging and
handling srvices. Inclusion of these new services will further
broaden the tax bse of Punjab sales tax and will be a
constinuation of the progress being made towards and eventual
goal of a negative tariff list for Punjab sales tax. The
definition of value under Punjab Infrastructure Devolopmnet
Cess Act, 2015 has also been rationalized to make it
consistent with the provisions of Customs Act, 1969″.