Friday, December 3, 2021

Cabinet gives ex-post facto approval for Govt amendments to Finance Bill, 2021

The Cabinet today gave ex-post facto approval for the Government amendments to the Finance Bill, 2021 enacted on 28th March this year as the Finance Act, 2021.

The amendments were essential to clarify and rationalise the proposals further and address stakeholders concerns arising out of amendments proposed in the Finance Bill.

The Government amendments to the Finance Bill, 2021 shall provide equity and inclusiveness to all the taxpayers by addressing stakeholders concerns arising out of amendments proposed in the Bill. The Government amendments to the Finance Bill, 2021 are tax proposals which shall generate timely revenue for the Government and streamline existing provisions by addressing grievances of the taxpayers.

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