Pakistan: Punjab sets over Rs 2.018 billion agriculture income tax target

Black Sea Grain (June 18, 2013) | The Punjab government has set target of Agricultural Income Tax (AIT) for the financial year 2013-14 at Rs 2,018.938 million as compared to budget estimates of 2012-13, which was Rs 720.522 million. ”Government is fully aware of the revenue potential of AIT and after thoroughly debating has taken important decision of enforcing income mode tax during the next financial year besides amending the AIT Act to collect tax from those who declare agricultural income under their income tax returns to FBR,” said the White Paper issued by the Punjab Government regarding budget 2013-14.