Taxation in Pakistan

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The government suffered on Wednesday its second defeat as a Senate panel rejected a proposal to increase income tax rates for individuals effective July 2018.

A parliamentary committee has recommended the government to reduce the rate of tax for highest slabs for salaried as well as non-salaried income in the Finance Supplementary (Amendment) Bill, 2018.

Pakistan Tehreek-e-Insaf (PTI) government on Thursday introduced amendments in the Income Tax Ordinance of Finance Act 2018.

After failing to get any result during the previous government, tobacco control advocates are hopeful that the government of Prime Minister Imran Khan will not only take steps to increase revenue collection from the tobacco industry but will also protect the citizens against hazards of smoking.

The tax contribution by Pakistan’s booming realty sector, where most of the untaxed money is parked, stood at only Rs23 billion or less than 0.1% of the size of national economy in the previous fiscal year.

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