ISLAMABAD: Despite the reservations of the International Monetary Fund (IMF), the federal government is likely to give tax incentives to certain productive sectors, including providing a one-year tax credit facility for investment in life insurance and health insurance in the federal budget. Is.
To ensure food security, incentives are being considered for agricultural warehouses and the insurance sector, for which a 10-year tax exemption on imported equipment is proposed. Companies providing warehouse services for storage of agricultural commodities are also likely to get tax exemption.
Farmers will be saved from possible losses due to deterioration of various agricultural commodities including wheat, rice and the government will also get additional revenue in future.
According to FBR sources, it is proposed to give one year tax credit on investments in life insurance and health insurance.
Apart from this, it is proposed to give tax credit on personal accident, travel insurance, payment of premium to householders, private motor insurance. Investors in household insurance are also likely to benefit.
