The Federal Cabinet on Wednesday approved change of 5 rupees coin and introduction of 10 rupees coin.
The meeting, chaired by Prime Minister Muhammad Nawaz Sharif at PM House, also accorded approval to several agenda items including Prime Minister‘s Sustainable Development Goals Programme and the SAARC Agreement of Motor Vehicles and Railways for Intra-Regional Connectivity.
The Cabinet approved Third Protocol to sign Agreement between the governments of Pakistan and China for avoidance of double taxation and prevention of fiscal evasion with respect of taxes on income and approval to sign the initialed draft.
The revision of Convention between Pakistan and Switzerland for avoidance of double taxation with respect to taxes on income and signing of initialed draft, also was approved.
The Cabinet approved Tax Laws Amendment Ordinance 2016 and determination of sales tax on petroleum products.
The decision was taken on medical treatment of poor/deserving citizens, suffering from fatal diseases including kidney, liver, bone-marrow transplant and cancers.
The Cabinet also approved the decisions taken by the Cabinet Committee on Restructuring, in the meetings held on December 13, 2013 and July 2014, and on decisions by the Cabinet Committee on Privatization in its meetings held on November 26th, 9th & 12th December 2014.
The Cabinet confirmed the decisions taken by the Cabinet Committee on Privatization in its meetings held on August 10th, 11th August, 17th September and October 2, 2015.
Other decisions taken include publication of Tax Directories, notification under Clause (22A) of Section 2 of the Sales Tax Act, 1990, and extension of reduced Withholding Tax Rate for non-filers under Section 236P on Income Tax Ordinance, 2001 upto 31st December 2016.
The Cabinet gave approval to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters by Senator Ishaq Dar Minister for Finance in the OECD Secretariat at Paris on September 14, 2016.
The Cabinet ratified the decisions of the Economic Coordination Committee (ECC) on August 29, 2016.
Source: APP
