Islamabad: The Federal Board of Revenue (FBR) is mulling various proposals to impose a ‘Super Corona Tax’ on the affluent section of the society to fight the pandemic’s economic impact – slated for announcement in the upcoming Budget 2020-21, according to news sources.
Sources, citing an official from the FBR, says that the said tax type was being devised by various countries and Pakistan can similarly benefit from the tax in helping generate additional revenue to combat the economic impacts of the coronavirus and cushion the blow.
The source revealed that if imposed, the Super Corona Tax will bring the people earning in the high-income bracket – individuals in both salaried and non-salaried categories – under the federal tax net.
However, another FBR official was of the view that if the economic activities are fully-revived from the beginning of the FY2020-21, then the revenue collection target of PKR 5.1 trillion can be achieved without introducing the newly proposed tax.
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