Government plans to end unnecessary exemptions in duty and taxes in the next budget
The government also plans to introduce few sectors in the tax net, which currently enjoy zero-tax status.
The PTI-led government has decided to introduce measures to end unnecessary exemptions in duty and taxes in the upcoming budget. The government has also decided to include sectors, which are currently enjoying the zero-tax status, into the tax net.
The government has given a deadline to forward recommendations to the Budget Wing of the Ministry of finance till February 11, 2020. Additionally, the government is also working to implement comprehensive tax reforms and improve the tax-to-GDP ratio.
The finance ministry has asked other relevant ministries and divisions to submit proposals by next week. The finance ministry has sent letters to all ministries in this regard.
What are your views on this? Share in the comments bar below.