Summary Minimum taxable income to be increased from Rs 400,000 per annum, tax target to be Rs 4000 billion
ISLAMABAD: (Dunya News) – According to sources the coming budget for financial year 2017-18 is expected to be public friendly as no new tax is expected while the minimum taxable income is expected to be increased from Rs 400,000 per annum, reported Dunya News.
The corporate tax may be lowered by 1%. The tax target is going to be set at Rs 4000 billion.
Well-placed sources told Dunya News that Rs 350 billion is expected to be collected due to economic progress and inflation. Rs 150 billion will be raised by improving the tax collection while the super tax and 17% GST are expected to stay on.
