Income Tax on mutual fund dividend reduced to 10 percent

ISLAMABAD: The government has decided to withdraw the tax rate on dividend received from mutual funds from proposed rate of 12.5 percent to 10 percent.
Finance Minister Senator Mohammad Ishaq Dar in his windup budget speech 2017/2018 said that on the recommendations of the parliamentarians the rate of dividend received from mutual fund has been reduced to 10 percent. However, this reduced rate is available on dividend issued to the extent of Rs2.5 million.
Through Finance Bill 2017, it was proposed to enhance the rate of tax to 12.5 percent from 10 percent on dividend income received from mutual funds.

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