Budget 2023-24: PBC Wants Tax-Free Corporate Dividends

The Pakistan Business Council (PBC) wants budget 2023-24 to make inter-corporate dividend payments non-taxable.

According to a press release, the organisation wants group-loss relief reinstated to foster consolidation, scale, and competitiveness; create parity in taxation of gains on disposal of shares in non-listed and private companies with gains on real estate; compensate for any tax due with assessed refunds; extend the period available for offsetting minimum tax against future profits for five years; reduce the incidence of

The PBC also suggested that wholesale, retail, and real estate taxes could raise Rs. 747 billion, due to revenue losses of Rs. 488 billion from under-invoicing imports from four countries, Rs. 400 billion in property taxes, and Rs. 375 billion in agriculture taxes.

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