• Tax on income derived from dividends raised to 29pc
• 20pc tax proposed on profits from investments in government securities
• FED of Rs10 imposed on one day-old chicks
• No changes to voluntary pension regime; tax on pensions won’t apply to commutation & gratuity amounts

ISLAMABAD: As the government announced a modest tax relief for the lower income slabs, Finance Minister Muhammad Aurangzeb on Monday introduced three new tax measures in the National Assembly to offset its revenue impact — part of the country’s ongoing commitment to remain within the fiscal parameters agreed with the International Monetary Fund (IMF).

In his winding-up speech, Mr Aurangzeb informed the National Assembly that the proposed measures aim to offset the revenue shortfall resulting from the tax relief, while ensuring that the industrial and commercial sectors are not subjected to additional burden.

As part of three new revenue measures, the government has proposed raising the tax rate on income derived from the debt portion of dividends issued by mutual funds to companies — from 25 per cent to 29pc. The revision aligns this category with the tax rate........

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