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PM nods abolition of corporate tax exemptions

PM nods abolition of corporate tax exemptions Business March 6, 2021 ISLAMABAD: Prime Minister Imran Khan has granted a green signal for abolishing of corporate income tax (CIT) exemptions probably through a legal amendment within the next few days to satisfy the IMF’s executive board, sources said on Friday. “The government will table CIT amendment bill before the parliament in order to fetch Rs150 to Rs200 billion with effect from July 1, 2021,” sources said. “In order to satisfy the IMF’s executive board, the government will table the bill before the parliament that will pave the way for reviving the stalled Fund program under extended fund facility.”

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