Government to amend tax laws to provide Covid-related relief

The government will soon move a bill to amend the tax laws to provide Covid related relief to taxpayers.

The Taxation Law (amendment) bill, which received cabinet nod on Wednesday, will not only provide for the income tax relief extended on financial assistance for covid 19 medical treatment announced earlier, compliances but also offer some fresh concessions.

The government had in June exempted financial assistance from an employer to an employee or to a person from another for Covid 19 treatment and any ex-gratia payment to family members in event of a person's death due to the disease from any income tax.