Budget 2017-18: Agriculture Income Tax target set at Rs1b

KARACHI: Sindh government has set a target of Rs1 billion Agriculture Income Tax during fiscal year 2017/2018.

Sindh Chief Minister Syed Murad Ali Shah in his budget speech 2017/2018 said that at present collection on account of Agriculture Income Tax stands at Rs93 million.

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This tax has a lot of potential and can provide much need fiscal space for development of Sindh.

Hence, in consultation with leading agriculturists, farmers and parliamentarians, the government decided to increase the target of Agriculture Income Tax to Rs1 billion for next financial year.

Also, World Bank sponsored Trust Fund for Accelerated Growth and Revenue (TAGR) in collaboration with Economic Reforms Unit, Finance Department is studying the Agricultural Income Tax for possible policy changes and improved collection.