Pakistan agrees to IMF's demand for a tax on agricultural income for a new bailout program.
Pakistan's provincial governments have agreed to the International Monetary Fund's (IMF) demand for a tax on agricultural income as the country seeks a new bailout program. The IMF has proposed a new standard individual income tax rate of up to 45% on agricultural income, with a deadline for provincial laws to align with federal income tax laws set for October 2024. This move aims to address the disparity in the country's income tax regime and help Pakistan meet its financial targets required by the IMF.
July 11, 2024
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