💨 Abstract

Pakistan's Punjab province is considering raising agricultural income taxes up to 45%, aligning with IMF bailout requirements. The proposed legislation removes schedules for taxes on irrigated land or agricultural income, bringing all agricultural income under a common federal tax rate. Super tax rates of 1-10% on incomes over PKR 150-500 million are also proposed.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖