KARACHI: The Pakistan Stock Exchange has proposed to reduce the tax rate to promote the registration of new companies.
This proposal has been given in the recommendations sent by PSX to the government for the federal budget of the next financial year.
The recommendations said that the tax rate on dividend should be rationalized to increase the volume of investment in the stock exchange.
Similarly, capital gains tax on sale of shares should be proportionate and CGT on shares should be proportionate to capital gains tax on immovable property.
The proposals call for removing discrepancies in tax rates across sectors, reducing capital gains tax on derivatives and futures contracts in the PSX.
Among the proposals, exemption of advance tax on property transfer for formation of REIT rate scheme.
