Tax reform on income tax and gst tax
My plans for tax reform in pakistan to get everyone documented in terms of tax in pakistan
All based on more money coming in and reduction of government spending
- reduce gst from 17-25% to 15% gst with further reduction 12.5% gst within 3 years and then 10% gst over 5 years
- in return for lower taxation 0-2 lakhs – 50 rupees taxation for everyone
- 10% between 2-4 lakhs income , 22.5% 4-6 lakhs , 25% 6-8 lakhs and 30% at 8 lakhs over annual income tax
For infrastructure funds and sukuk bonds to build infrastructure projects. Investment tax credit for those investing in infrastructure or sukuk bonds to finance infrastructure projects and this means either reduction in companies tax for companies investing or tax reduction for individuals or reduction on dividends taxation on sukuk or infrastructure funds listed on the stock markets in karachi, islamabad and lahore. Investment tax credit would be upto 5% more you invest then in tax in you pay if company or individual.
This is all based on collecting higher federal exercise duty and agriculture tax and higher exports and forex tax.
What i have said is income tax and gst tax bands and tax reforms of those
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