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NIC number to become National Tax Number

The senate’s treasury committee meeting headed by Senator Ahmed Ali was held in Islamabad. In the meeting, Federal Board of Revenue chairman Salman Siddique told the committee that from December 31 onwards, rather than assigning a new National Tax Number (NTN), the National Identity Card (CNIC) number would be given the NTN status. He said that this step would help increasing the tax network.

In the meeting, various recommendations for the new fiscal year budget were presented. The committee recommended that the minimum wage should be increased from Rs 7000 to Rs 8000. The committee also recommended that the minimum taxable income should be increased from Rs 350,000 to Rs 400,000.

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