Will the upcoming budget include freelancers and vloggers?

Islamabad – The Pakistani government is working harder to enact tax reforms that will broaden the tax base and raise more money to repair the economy. As a result, authorities are now concentrating on wealthy people, such as  freelancers and vloggers who make money in US dollars.

In a recent article published in an Urdu publication, senior journalist Saleh Zafar asserted that the government is examining plans to impose taxes on content creators.

According to him, the Federal Board of Revenue in Pakistan has suggested raising taxes, bringing freelancers and vloggers under the tax net, and imposing an equal income tax on salaries and uniform business income.

He went on to discuss the idea of taxing remittances, with agricultural income tax to follow after final approval.

The alliance government is thinking of implementing new policies that would require higher pensions to pay income tax starting in the next fiscal year. The government has begun to take into account a number of suggestions for raising income tax revenue in the budget for the next fiscal year.

The IMF has called for taxes on a range of income streams, and several plans to impose an agricultural income tax have been developed. Agricultural income tax collection is probably going to fall under the purview of the FBR.

The international lender also made note of the fact that powerful groups in the agriculture industry are concealing their true earnings. One significant structural component of the new Programme is the imposition of an agricultural income tax.