The Federal Board of Revenue (FBR) has started considering tax on pensioners in the federal budget for the next financial year.
According to media reports, tax on pensioners has been proposed in the budget of the next financial year. The Federal Board of Revenue has started considering tax on pensioners in the federal budget for the next financial year.
According to sources, a proposal of 10% tax on those receiving pension equal to or more than Rs 1 lakh is under consideration to increase the tax net.
Pakistan Tax Bar Association has also said in the budget proposals that tax should be imposed on all incomes, 10% tax should be imposed on more than 100,000 pension holders.
On the other hand, the Tax Bar Association says that this will increase the number of taxpayers, besides withdrawing the holding period of immovable property and imposing capital gains tax on every sale and purchase transaction.
