Cash-strapped Pak considering imposing income tax on pensions amid IMF pressure ...Middle East

The cash-strapped Pakistan government is considering the imposition of income tax on monthly pensions in a bid to recover heavy tax losses amounting to Rs 1.4 trillion, amid pressure from the International Monetary Fund (IMF) to reconsider its tax laws. The fine-tuning of tax proposals is being carried out ahead of a meeting with IMF, who will begin vetting the government's budgetary proposals for the fiscal year 2021-22 from next week, The Express Tribune citing sources from Pakistan's Ministry of Finance.

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