ISLAMABAD – Employees of Pakistan Steel Mill (PSM) were relieved following intervention of Federal Tax Ombudsman (FTO) into the tax exemption case. According to a statement issued here on Tuesday, the FTO directed Federal Board of Revenue (FBR) to ensure uniformity of treatment to employees of all public sector organisations.
In a petition before the FTO, it was asserted, on behalf of employees of the Pakistan Steel Mill (PSM), that whereas organizations such as Pakistan National Shipping Corporation (PNSC) and Pakistan International Airlines (PIA) were allowing tax exemption on income from provident fund balances at 16 percent, PSM was allowing exemption on the said income at 12.5 per cent.
