Federal Minister for Finance Senator Ishaq Dar chaired a meeting on Thursday to discuss important matters related to levy of 8 percent minimum tax on services.
FBR Chairman Tariq Bajwa apprised the minister that the FBR had held consultative meetings with the relevant stakeholders to discuss various issues. The chairman informed the minister that various services sectors had different financial profiles for arriving at their income and imposition of minimum tax rate sector wise.
The finance minister said that promotion of economic activity was the main objective of the PML-N government. He directed for formation of a 5-member committee with Special Assistant to Prime Minister on Revenue, Haroon Akhtar, as its head to look into the matter. The other members of the committee shall include Asim Zulfiqar and Ashfaq Ahmad Tola as Chartered Accountants, Naveed Andrabi Advocate and one senior member from the FBR. The minister said the committee would put forth its recommendations for resolving the issues within two weeks duration.
