The Securities and Exchange Commission of Pakistan (SECP) has suggested Federal Board of Revenue (FBR) for reducing Capital Gains Tax (CGT) rates for two years on disposal of listed securities in budget (2020-21).
Officials said APP here on Monday that the tax authorities and high ups of the SECP have discussed the proposal for next fiscal year.
During ongoing budget preparation exercise for 2020-21, the budget markets are reviewing the said proposal to attract investment in stock market.
In due consultation with the stakeholders and detailed deliberations the Securities and Exchange Commission of Pakistan (SECP) has shared with the Federal Board of Revenue (FBR) some key tax proposals considered to be critical for capital markets and corporate sectors.
The proposal shared are only at a preliminary stage of discussion with FBR. The SECP had a first round of discussion with FBR officials and the next round of discussion will follow. None of them have been finalized or approved, senior government officials revealed.
Following are the key budget proposals under discussion between the FBR and the SECP relating to the corporate sector.—APP