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Federal govt is looking into a tax relief proposal for businesses and industries

Islamabad: The federal government is looking into a tax relief proposal for businesses and industries in the wake of the reduced economic activity accrued and further expected in the wake of the corona-virus pandemic. The final decision will be announced after a top-level meeting with the International Monetary Fund (IMF) Executive Board on April 16.

The provincial governments have separately announced their own versions of relief packages for industries but the federal government has not yet announced any such package. However, now that the IMF seems willing to provide relief to the tax payers, the government is looking hopeful in announcing a package for this soon.

It will be decided at the high-level meeting about whether the relief package should be provided before or after the budget.

IMF has recommended cash transfers to vulnerable sections of population, wage subsidies for the protection of industrial jobs and tax relief to industrial and business units to all the developing countries of the world.

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