LAHORE: The government of Punjab has decided to impose a super tax on major agriculture products in the province to meet IMF conditionalties.
Officials in the provincial government told media that the super agriculture tax would be imposed on major land holding farmers as part of IMF conditionalties. Moreover, proceeds from the livestock sector would also we brought under the tax net.
In this regard a draft Punjab Agriculture Amendment Bill 2014 has been prepared to make amendments to the Punjab agriculture act of 1997 which will be presented in the Punjab assembly for passage very soon.
Under the proposed law, the farmers would have to file returns about the income of their agriculture every year.
The officials said that the copy of the gazette notification of the law has to be submitted to the International Monetary Fund by November 15 and for this reason the session of the Assembly would be called soon to pass the bill.
It may be not here that the IMF has expressed dissatisfaction over the government steps taken to increase taxes his in the country and its team is expected to visit Pakistan very soon to hold talks with the government.
The IMF has also asked the government to announce a mini budget introducing more taxes.
