Government Releases AWT from Income Tax
Islamabad: The government exempted Army Welfare Trust income by submitting a separate amendment just prior to the national assembly’s adoption of the budget measure.
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The Army Welfare Trust was not included in the updated finance bill that the government presented to the national assembly and disseminated to the treasury and opposition members, as confirmed by the national assembly members who were seen a copy of the amended finance law.
However, Finance Minister Shaukat Tarin submitted a new amendment on the floor of the house before to the budget’s adoption.
In response to a suggestion by Senator Faisal Saleem of the PTI, the Senate Standing Committee had suggested exempting AWT revenue. No longer must the trust file an annual income tax return. JUI-F Senator Talha Mehmood is the meeting’s chairman.
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According to him, it has become routine for the government to offer revisions to the financial bill long after the Senate has submitted its recommendations within 14 days of the measure’s introduction in both chambers of parliament.
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