Chief Minister Syed Murad Ali Shah announced that livestock will not be included in the agricultural income tax framework.

The tax will now be managed by the Sindh Revenue Board (SRB) instead of the Board of Revenue (BOR).

In the event of natural disasters, adjustments to the agricultural income tax will be made.

The cabinet outlined specific penalties for concealing cultivated land.

The tax structure will impose a 20% tax on small companies and 28% on large companies, with varying rates on agricultural income based on thresholds:

• 1% tax on income between Rs150 million to Rs200 million
• 2% tax on income between Rs200 million to Rs250 million
• 3% tax on income between Rs250 million to Rs300 million
• 4% tax on income between Rs300 million to Rs350 million
• 6% tax on income between Rs350 million to Rs400 million
• 8% tax on income between Rs400 million to Rs500 million
• 10% tax on agricultural income exceeding Rs500 million

The Sindh Cabinet emphasized the need for the federal government to consult the province before engaging with the IMF.

Chief Minister Shah stated that he would reach out to the federal government again regarding these discussions.

Concerns were raised by the cabinet regarding the potential impact of the agricultural income tax on prices, particularly for vegetables, wheat, and rice.

However, Chief Minister Murad assured that the cabinet believes the approval of the agricultural tax is in the national interest.

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