The federal government has decided to reduce the tax burden on exporters by cutting the professional income tax and minimum tax from 2% to 1.25%.
According to the budget speech, the export sector remains a major source of foreign exchange for the economy. The government said exporters are currently paying 2% tax in the form of professional income tax and minimum tax.
The proposed reduction to 1.25% will be made part of the minimum tax structure, the budget speech said.
The government said the measure is intended to lower the cost of doing business for exporters and improve competitiveness in international markets.
Exporters have often complained that high taxation, energy costs, and delayed refunds make Pakistani products less competitive abroad.
The latest proposal comes as the government looks to boost exports, create jobs, and bring in more foreign exchange through the formal economy.
So let’s see . I am paying upto nearly 15 percent tax if I place my money in a bank. But an exporter who earned billions only pays 1 percent
Is this a joke