ISLAMABAD: Minister of Finance Miftah Ismail has said that relief announced in the Budget 2018-19 will help increase the tax base and give an impetus to national growth.
He was speaking as chief guest at a post budget seminar organized by Institute of Cost and Management Accountants of Pakistan in Islamabad on Sunday.
He said taxes in the real estate sector have also been rationalized in order to shun the undocumented economy and encourage people to declare the real worth of their properties.
Referring to new tax slabs recently announced by the Prime Minister, the Finance Minister said tax procedure has not only been simplified but its rate also reduced to facilitate the tax payers.
On a question regarding increasing the petroleum levy, the Minister said the government will pass on the reduction of international oil prices as it did in previous years.
The Finance Minister also emphasized the importance of enhancing manufacturing in the country in order to reduce import bill. NNI