Karachi: The Overseas Investors Chambers of Commerce and Industries (OICCI) has proposed the government to remove Super Tax on individuals and corporates in the upcoming budget, reported a news source. The OICCI shared the recommendation in its proposal for the budget 2018-19.
If the suggestion is accepted, 3% Super Tax on individuals and 4% on banking companies will be cancelled. The Super Tax was introduced three years through the Finance Act 2015.
In its tax proposals, the OICCI also proposed slashing corporate tax rates from 30% to 25%, as this will bring more entities under the tax net.
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