ISLAMABAD: The government has unveiled new revenue measures totaling Rs36 billion, including a controversial 10% Federal Excise Duty (FED) on Day-Old Chicks (DOC) at the hatching stage.
These additional taxation measures were disclosed by the Chairman of the Federal Board of Revenue (FBR) during a meeting of the National Assembly Standing Committee on Finance held on Sunday.
The committee approved the following three key tax changes:
- A 10% FED on Day-Old Chicks in the poultry industry.
- An increase in the tax rate from 25% to 29% on dividends received by companies from mutual funds that earn income from profit on debt.
- A rise in withholding tax from 15% to 20% on profit from government securities paid to institutional investors (excluding individuals).