The Minister for Finance, Government of Punjab, presented the 2016-17 Budget today and we are pleased to provide our commentary on the sales tax and other laws. Overall, the tax measures introduced in sales tax are aimed at streamlining the provisions in the Act and the Rules and adding 3 new taxable services. Besides proposing changes in other laws, one-time tax on imported cars, registered after June 30, 2016, has also been introduced.
It should be noted that the commentary is our interpretation of the changes proposed in the Finance Bill, 2016. As the proposals are yet to be enacted, and the legislation to enact the proposals is yet to be published, our comments in this commentary should not be considered definitive and should, therefore, be used only as a guide.