ISLAMABAD - A crucial meeting on agricultural income tax between centre and provinces ended inconclusive on Tuesday, as no decision was taken in this regard.
The sub committee, formed by Council of Common Interest (CCI) on agricultural income tax met under the chairmanship of Federal Minister for Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh. Several options regarding imposition of agricultural income tax were discussed during the meeting, however, no decision took place, sources informed. Sources further added that proposals of imposing agricultural tax on more than Rs 350,000 income was discussed in todays meeting that remained inconclusive.
Sources said that province would discuss the details of meeting in cabinets meetings. Federal Minister Abdul Hafeez Shaikh told that the meeting has discussed all aspects of agricultural income and added that further meetings would take place soon.
Advisor to Chief Minister Punjab Zulfiqar Khosa said that no decision has been taken in the first meeting on the issues of agricultural income tax.
He further said that rate of the agricultural tax should be unique in all four provinces. The proposals discussed in the meeting would be presented in the provincial cabinet meeting he said and added that provinces have sought details of the declared income tax from the Centre.
Talking to the media, Khyber Pakhtunkhwas Finance Minister Muhammad Humayun Khan said that province collect Rs 1.9 million tax on agricultural income which is very low and should be increased. He further said that provinces would collect taxes on agricultural income.