Need stressed to slap tax on farm incomes

The provincial government are now look convinced tax the agriculture farm incomes across the board, however, efforts in this regard still considered half hearted as no tangible progress has so far been made in this regard.

According to a report, there are two taxes that apply to landholders – one is land tax and the other is agriculture income tax (AIT).

As per land tax slabs levied on the cultivated land, total land revenue should have been Rs 223.2 million last year while the provincial government has projected the receipts from this source at Rs 21 million only.

Tax experts are of the view that the relevant laws and rules governing the AIT are confusing, giving the tax collectors enough space to discriminate between the assesses and indulge in dubious practices.

The latest annual report of State Bank has again urged upon the relevant quarters to muster the political will to widen the tax base to include untaxed or under-taxed segments of the economy like agriculture and services if sustainable growth is to be achieved.

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