ISLAMABAD: The federal government has hinted at revising tax on retail, agriculture and real estate, alongside a wealth tax on movable assets under the economic revival plan.
The Ministry of Finance has stated this in its monthly Economic Update and Outlook of September 2023 uploaded on Thursday. The key measures under the economic revival include revenue enhancement strategies including tax revisions in sectors like retail, agriculture, and real estate, alongside a wealth tax on movable assets, as deemed appropriate.
In addition, tax exemptions worth billions will be limited to essential sectors only such as food and medicine, whereas, austerity measures to rationalise government expenditures, along with a review of subsidies and grants are also on the cards.
Economic update for August: Upward adjustment in energy tariffs, fuel price hike to strain inflationary pressures:…
