The upcoming budget for FY 2017-18 is likely to be public friendly and it is expected that no new tax would be introduced. Moreover, it is anticipated that the minimum taxable income is likely to be revised from the current Rs400, 000 per annum.
Sources are reported to have said that the corporate tax may be revised downward by 1 pc. The tax target is likely to be set at Rs4000 b. Moreover, Rs350b is expected to be raised for supporting economic progress and inflation. Rs150b will be raised by improving the tax collection while the super tax and 17 pc GST are expected to continue.
