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SECP proposes tax exemption for overseas Pakistanis

SECP proposes tax exemption for overseas Pakistanis

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has put forward a series of tax-related recommendations to boost investment in the country.

The SECP has proposed tax reductions for overseas Pakistanis to create a more investor-friendly environment for businesses and individuals. Among the proposed measures is a three-year tax exemption for individuals investing in Pakistan. The Commission has suggested reduced tax rates of up to 15% for three years on investment holdings and exemption from taxes on investment holdings for longer than three years. The SECP has also proposed relief in taxation on capital gains and exemption on bonus shares, the sources added.