Sindh Cabinet to approve Agriculture Income Tax tomorrow

KARACHI: The Sindh Cabinet session has been summoned tomorrow (Monday) for approval of the agriculture income tax, citing sources ARY News reported on Sunday.

The provincial cabinet session has been summoned at 9:00 in the morning on Monday after legislation of agriculture tax by the federal government.

The parliamentary members have been informed about approval of the bill for enforcement of the agriculture income tax, sources said.

Sources said that the parliamentary minister has been directed by the government for passage of the agriculture income tax bill from the assembly’s current session under which the tax will be enforced on farm incomes.

Agricultural income tax in Sindh could be enforced from 15 to 45 percent per annum, sources said.

Sindh’s Chief Minister Murad Ali Shah in the parliamentary party meeting said that the three provinces have enforced agriculture tax, “We have to pay the tax in line with the requirements of the International Monetary Fund (IMF)”.

As part of its $7 billion bailout deal with Pakistan, the IMF identified a need to increase government revenue by increasing tax on agricultural income, among other initiatives.