Government exempts Army Welfare Trust from income tax

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Army Welfare Trust

On Tuesday, the federal government exempted the income of the Army Welfare Trust by independently passing an amendment just before the National Assembly approved the finance bill.

President Dr. Arif Alvi gave ascent to the finance bill, which came into force on the 1st of July. The Army Welfare Trust and the Fauji Foundation have been exempted from the purview of the income tax law.

The Minister for Finance, Shaukat Tarin, said, “Army welfare trust was inserted through a separate amendment and was approved by the house.” Tarin added that it was amendment number 25 and part of his set of amendments.

The JUI-F led the senate standing committee on finance that had recommended exempting the Army Welfare Trust (AWT) from tax. The trust runs businesses for the welfare of retired army employees.

The senate standing committee had suggested exempting the income of the AWT on a proposal submitted by the PTI Senator, Faisal Saleem. Following this, the trust is not required to file an annual income tax return.

The AWT holds public registered companies like Askari Life Assurance and Askari General Insurance. However, the trust’s non-listed public companies are AWT investments and MAL Pakistan.

Moreover, the AWT owns Askari Guards, Askari Aviation Services, Askari Development, Askari Enterprises Fauji Security Services, and Holding, among the private limited companies.

Part one of the second schedule spares the incomes of entities and individuals from tax. The committee has advised including the trust in part one of the second program, which has taken it out from the purview of the income tax law.

What are your views on this? Share in the comments bar below.

  • From dha to every army business is run under army welfare trust and fauji foundation. Why all the text exemptions are for elites whereas poor is bound to pay tax on each and everything

  • all the facilities are for forces,what civilians will do, except going abroad to earn roti.

    • In these difficult economic times when IMF, EU, and USA are giving tough time to Pakistan due to obvious reasons, it was the right time that government would have brought them into tax-net. With what face our government now say that they will bring more people into tax net? Aik nahin, kaee Pakistan.

      BTW, hamaari civil governments gharon ko kion nahin chalee jaateen, aur hakoomat Fouj ko kion nahin day daiteen. After all, Mush kay time par bhi to Pakistan chal hi raha tha.

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