Businesses, economists still in dark about new Income Tax Act

Businessmen and economists are still in the dark about the new Income Tax Act 2023, which will be presented in parliament on June 4. 

Metropolitan Chamber of Commerce and Industry (MCCI) and Policy Research Institute (PRI) urged the government to disclose NBR’s new Income Tax Act and to give them sufficient time and opportunity to review and comment on it before its effect.

Economists and business were speaking at a post-budget reaction jointly organized by MCCI and PRI on Saturday.

Agreeing with the proposal as a chief guest of the discussion Planning Minister MA Mannan said: “I agree that there is a need for communication and consultation with the business community before the passing of the new Income Tax Act, 2023.”

He also assured that he will convey this message to relevant people in the government.

Regarding subsidy, he said: “But in many cases, the government will come out…