Govt to amend Finance Bill 2018-19

ISLAMABAD: The government is likely to make a significant amendment to the Finance Bill 2018-19.

It was reported that the amendment will also include changes to the tax amnesty scheme introduced by the previous government.

The Pakistan Muslim League-Nawaz (PML-N) government had introduced a tax exemption up to Rs1.2 million on annual income. The new government will reportedly reduce the slab from Rs1.2 million to Rs0.8 million.

Furthermore, recommendations will be made to increase tax revenue and will also propose the imposition of a one per cent regulatory duty on all import items.

In this regard, a National Assembly session will be held on September 17 (Monday), sources added.