ISLAMABAD - The tax managers of government have proposed Rs 1251.5 billion as tax revenue target for the next fiscal year 2008-09, projecting a 24.5 per cent growth against the revised estimates of outgoing year by taking some additional taxation measures of Rs 71.3 billion. The new taxation measures will generate Rs 35.7 billion in income tax, Rs 29.2 billion in General Sales Tax (GST) and Federal Excise Duty (FED), and Rs 6.4 billion from customs duty, senior officials of the Federal Board of Revenue (FBR) told a group of journalists, while explaining the tax and relief measures here on Wednesday. The government projected direct taxes at Rs 496 billion for the next fiscal 2008-09, with an increase of 27 percent against the outgoing year revised direct taxes estimates. It is hoped to collect Rs 477 billion under income tax, Rs 3.5 billion under Workers Welfare Tax, Workers Participation Fund at Rs 9 billion and Capital Value Tax is projected at Rs 6.5 billion in the next fiscal. In the indirect taxes, Customs collections in the next year is projected at Rs 170 billion, sales tax at Rs 472 billion, Federal Excise Duty at Rs 112 billion and other taxes Rs 1.4 billion in the next fiscal. Exemption on capital gains tax (CGT) announced till June 30, 2010, which was scheduled to go by June 30 this year. However, the 'influential lobby' managed to get another two years exemption from CGT. The tax managers have also suggested launching of two separate amnesty schemes for the 'people' who did not pay any tax in the past and even not declared their assets. The government wants them to come forward and declare their income, as they would not be asked about the assets. The black money holders will not need to pay any additional tax or penalty under the said schemes. According to Sales Tax Amnesty Scheme, those who declare their sales and turnover and get registered with the Sales Tax department of FBR, their past sales and turnovers would not be touched upon by the tax officials. The same scheme is also planned in the income tax to encourage the 'black money' holders to pay tax and declare the assets and income. Tax officials, however, have made it clear that the scheme is valid up to September 30 this year and if they failed to come into the tax net within the given two months then the facility will be withdrawn.           The budget documents revealed the government has increased the rate of GST from 15 percent to 16 per cent with existing special excise duty at the rate of 1 per cent placed on the consumers' goods across the board that would badly hit the inflation-ridden people. This additional 1 percent tax would adversely affect the poor class, who were looking for a comprehensive relief package. Income Tax slab for the salaried class has been raised to Rs 180,000 from the existing Rs 150,000 in the next fiscal year 2008-09. However, the women taxpayer salary's slab has been increased from Rs 200,000 to Rs 240,000 in the next year's budget. The flat rate of 5 percent on the income from rental of property has been replaced with the new three slabs of 5, 10 and 15 percent as per income of this source. However, the rental income from property up to Rs 15,000 is exempted from the proposed tax. A new taxation system has been introduced for builders and developers and the facility of reduced tax rate for a cooperative society or a finance society is proposed to be withdrawn in the next year, starting from July 01, 2008. The builder will require to pay at the rate of Rs 50 per square feet of a covered area of a unit at the time of sale and the developer of land into residential, commercial and industrial units will need to pay Rs 100 per square yard at the time of sale. This would be the minimum tax on income of the builder and developer. In the customs duty, two new upper slabs of 30 and 35 percent were introduced from the existing highest applied duty rate of 25 percent on different items. Customs authorities suggested duty rates increase for non-essential and luxury items including imported packed-food stuffs. Customs duty at the rate of Rs 500 per new mobile set has been imposed. Increase in rates on import of cars, jeeps above 1800 cc from 90 to 100 percent and fixed duty, tax rates on old and used cars and jeeps increased by 10 percent.