PM nods abolition of corporate tax exemptions
Business
March 6, 2021
ISLAMABAD: Prime Minister Imran Khan has granted a green signal for abolishing of corporate income tax (CIT) exemptions probably through a legal amendment within the next few days to satisfy the IMF’s executive board, sources said on Friday.
“The government will table CIT amendment bill before the parliament in order to fetch Rs150 to Rs200 billion with effect from July 1, 2021,” sources said. “In order to satisfy the IMF’s executive board, the government will table the bill before the parliament that will pave the way for reviving the stalled Fund program under extended fund facility.”
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PM nods abolition of corporate tax exemptions thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Govt may abolish corporate income tax exemptionsBy Mehtab Haider
National
February 8, 2021
ISLAMABAD: In order to revive the stalled IMF program, the government is considering meeting another condition of the Fund to abolish corporate income tax exemptions with estimated cost of around Rs 150 to 200 billion through a Presidential Ordinance.
“To give confidence to the IMF’s Executive Board, that the government is considering doing away with corporate sector income tax exemptions through a Presidential Ordinance” for revival of the IMF program ahead of the coming budget 2021-22,” a top official of government confirmed to The News here on Saturday night. This Ordinance will be made part of the next Finance bill 2021-22 on eve of the coming budget.
ISLAMABAD: In order to revive the stalled IMF program, the government is considering meeting another condition of the Fund to abolish corporate income tax exemptions with estimated cost of around Rs.