President approves bill on tax law tweaks
The government has mandated the task force to review the FBR’s tax collection data, its performance indicators and reporting mechanisms, and identify the areas of revenue performance and potential. photo: file
President Asif Ali Zardari on Friday approved the Tax Laws (Amendment) Bill 2024 under Article 75 of the Constitution.
The bill aims to amend taxes and duties’ related laws, a President House news release said.
The amendments made through the bill include changes to sections 30DDD, 43, 45B, 46 and 47 of the Sales Tax Act 1990.
Similarly, through the amendment bill, changes to sections 29, 33, 34 and 38 of the Federal Excise Act 2005, and sections 122A, 124, 126A, 130, 131, 132, 133, and 134A of the Income Tax Ordinance 2001 have also been made.
The Tax Laws (Amendment) Bill 2024 was passed by the National Assembly on April 29, 2024.
The president approved the bill on the advice of the Prime Minister.