New tax likely for rehabilitation of IDPs

ISLAMABAD: The federal government of Pakistan is considering to impose a new tax for fiscal year 2015-16 pertaining to rehabilitation of internally displaced persons (IDPs) of the country’s northwestern tribal areas bordering Afghanistan.

Sources in finance ministry told Geo News on Thursday that the new tax is likely to collect an additional Rs30 billion for the national exchequer.

The tax will only be imposed on big corporate businesses and normal citizens will be exempted from it.

The sources further said that increasing the scope of new tax to individuals earning more than Rs10 million per annum is being considered by the Federal Board of Revenue (FBR).