Senate body for uniform farm tax
June 18th, 2012 | Technology Times | No Comments
STAFF REPORT IBD: The Senate has recommended to the National Assembly that the proposal pending with the Council of Common Interests (CCI) regarding uniform tax on agricultural income should be finalised. Some major amendments in the Income Tax Ordinance 2001 recommended by Senate Standing Committee on Finance have been approved by the Senate.
Among the approved recommendations, the Senate recommended the National Assembly that the uniform income tax should be finalized and get it implemented throughout the country without any discrimination, if they want this potential sector to grow in sustainable way.
Taking part in the debate on the various proposals drafted by the house committees especially the Standing Committee on Agriculture, different parliamentarians were of the strong view that if the uniform tax is fianlised and implemented in the country, it would contribute a lot in effectively bridging the wide tax collection gap.
They also said that the government should not show leniency in this regards and take practical initiatives so that this vital sector is taken into the tax net.
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