Leader of People’s Party and Senator Farooq H. Naik has said that why income tax is not taken on agriculture, the entire burden of tax is being put on the tax payer, I am tired of paying additional tax.
A meeting of the Senate Standing Committee on Finance was held under the chairmanship of Senator Salim Mandviwala in which Federal Board of Revenue (FBR) Chairman Zubair Amjad Towana said that tax on agriculture sector does not come under the purview of FBR.
He said that the World Bank has not given any proposal to the FBR to tax agriculture.
Chairman FBR said that the World Bank has not sent any letter regarding taxation on agriculture, the number of tax filers has reached 5 million.
In the meeting, Senator Farooq Naik said that the big industrialists are given subsidy and the poor get no subsidy, the electricity bill of the poor is not waived, no one should get subsidy.
Chairman FBR said that the World Bank has not asked us to end tax incentives.
Chairman FBR said that agricultural income tax is a provincial matter, agricultural income up to Rs 12 lakh is exempted from income tax, adding 7 lakh new taxpayers to the tax net last year.
He also said that currently 4.9 million income tax returns are filed, 60 percent of the population is below 30 years of age, so the rate of taxpayers is also low.
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