ISLAMABAD – The government of Pakistan decided to increase the income tax rate to 29 percent for the majority of the people.
The finance ministry showed concern over the budget proposal of cutting the 25 percent dividend income tax rate on real estate investors, the ministry said that this step has taken to give relief to a company of Al Habib Group.
The Secretory of finance asked about the integrity of the decision to end 25 percent dividend tax on incomes of Real Estate Investment Trust [Reit] in the meeting for the reviewal of tax measures.
It happened the first time that the budget making is shared with anybody outside the headquarters of FBR.
The Chairman of FBR has not attended the meeting organized on Saturday who is also secretary revenue division, Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan also remains absent.