Islamabad (September 12, 2018): The PTI-led government will make a significant amendment in the Finance Bill 2018-19, sources informed on Wednesday.
The amendment will also include changes to the tax amenity scheme introduced by the previous government, according to sources privy to the matter.
The Pakistan Muslim League-Nawaz (PML-N) government had introduced a tax exemption for annual income up to Rs1.2 million. The new government will reduce the slab from Rs1.2 million to Rs0.8 million, sources said. Furthermore, recommendations will be made to increase tax revenue.
The government will also propose the imposition of a one per cent regulatory duty on all important items.
A National Assembly session will be held on September 14 in this regard, sources added.