KARACHI: Pakistan Stock Exchange (PSX) Chairman Muneer Kamal along with members of the board of directors met Special Assistant to the Prime Minister for Revenue Haroon Khan on Friday to discuss the exchange’s proposals for the federal budget for 2017-18.

Key proposals that came under discussion included the rationalisation of tax on bonus shares, tax credit on the enlistment on the stock exchange, capital gains tax (CGT) on the disposal of securities, unrealised gains on the sale of immovable property to real estate investment trust (REIT) schemes, investment in REIT to be treated as investment in a stock fund, rationalisation of the taxation regime for brokers and applicability of minimum tax on services rendered by the PSX.

Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi, Federal Board of Revenue (FBR) Chairman Dr Muhammad Irshad, SECP Commissioner Akif Saeed and SECP Executive Director Musarat Jabeen also attended the meeting.

Published in Dawn, March 11th, 2017