Government to provide tax relief to people in upcoming budget
As the government is presently busy making the national budget for the financial year, 2021-22, it has already prepared recommendations for providing relief to the citizens, reported 24NewsHD TV channel on Monday.
Quoting sources, the channel reported that apart from providing tax exemptions to people on credit cards and ATMs, the government is considering abolishing 10 unnecessary withholding taxes and retaining only five to six necessary ones.
Sources further disclosed that non-provision of data of monthly transaction of Rs0.5 million to the Federal Board of Revenue had also been recommended in the budget.
Meanwhile, talking to 24News on Monday people called for reducing the burden of taxes on them.
Tax experts have demanded a reduction in taxes on cheques, pay order, bank draft and the drawing of cash.
Reporter: Waqas Azeem