Pak considering imposing income tax on pensions
ANI
22 May 2021, 00:19 GMT+10
Islamabad [Pakistan], May 21 (ANI): The cash-strapped Pakistan government is considering the imposition of income tax on monthly pensions in a bid to recover heavy tax losses amounting to Rs 1.4 trillion, amid pressure from the International Monetary Fund (IMF) to reconsider its tax laws.
The fine-tuning of tax proposals is being carried out ahead of a meeting with IMF, who will begin vetting the government s budgetary proposals for the fiscal year 2021-22 from next week, The Express Tribune citing sources from Pakistan s Ministry of Finance.
One of the proposals is to place a limit on income tax-free pensions being received by the retired civil servants, judges and generals, informed sources.
Pakistan considering imposing income tax on pensions
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Pak considering imposing income tax on pensions
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