ISLAMABAD – Minister for Finance and Economic Affairs Ishaq Dar has said that National Tax Number (NTN) will not be mandatory for the taxpayers from the next fiscal year.
Addressing a news conference in Islamabad on Saturday, he said that individuals will be able to file tax returns using National Identity Card Numbers. He said that the individuals who do not have CNIC due to not attaining the prescribed age will continue to use NTN numbers to file tax returns.
He said that the Export Refinance Scheme that stood at 9.4 per cent will be reduced to six per cent from tomorrow. He said that the Long Term Finance Facility will also be reduced to 7.5 per cent from tomorrow.
He said that the Federal Board of Revenue collected 1162.4 billion rupees during the first six months of the current fiscal year. He said that the budget deficit stood at two point three per cent during the last six months against the target of 4.9 percent for the current year.