The tax reforms, if executed thoughtfully, could play a significant role in boosting government revenues, supporting rural development and improving overall economic stability.
«In the face of Pakistan's economic challenges, implementing agricultural taxes warrants thoughtful consideration. The potential benefits of such a tax reform are substantial, but so are the complexities and challenges involved in its execution,» said Shahzad Amir Naveed, an agriculture sector specialist, serving with the ministry of planning, development & special initiatives.
«Agriculture plays a pivotal role in Pakistan's economy, contributing significantly to the GDP and providing employment for a substantial portion of the population. However, the historical exemption of agricultural income from taxation has led to revenue shortfalls, which, in turn, have contributed to fiscal deficits and economic instability.
PigUA.info by materials nation.com.pk