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Print Print edition: 2024-05-15

FBR proposes Rs1.3trn new taxation measures

  • Chalks out plan including additional taxes, withdrawal of exemptions and zero-ratings and taxation of real estate/retail sectors
Published May 15, 2024 Updated May 15, 2024 10:44am
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By Sohail Sarfraz
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ISLAMABAD: The Federal Board of Revenue (FBR) has proposed new taxation measures to the tune of Rs 1,200 billion to Rs 1,300 billion to meet the estimated revenue collection target within the range of Rs11.6 trillion and Rs 11.7 trillion for 2024-25.

Sources told Business Recorder that the FBR has shared the initial sketch of budget proposals with the International Monetary Fund (IMF).

The FBR has chalked out new taxation measures including additional taxes, withdrawal of exemptions and zero-ratings and taxation of real estate/retail sectors.

The FBR has estimated to collect Rs 1.2 trillion to Rs 1.3 trillion through revenue measures for the next fiscal year. The exact figure would be finalized in the next few days.

IMF for taking agreed contingency revenue measures

The budgetary proposals of the FBR have yet to be approved by the Finance Minister.

Copyright Business Recorder, 2024

IMF Taxes FBR IMF and Pakistan revenue collection target taxation measures Budget 2024 25 Budget FY25 FY25 Budget Budget FY 2024 25

Comments

Comments are closed for this article.

Aamir May 15, 2024 09:50am
So sky high taxation and zero growth for next year. It's like flogging a dead horse.
0
Maqbool May 15, 2024 10:43am
Nothing should be imported Tax Free. Everything should have even a 1% duty so transactions can be monitored ( unlike what happened with Chinese solar panels comming from UAE )
0
RSM May 15, 2024 11:44am
when will they Tax what actually should be taxed? Fauji Inc., Big Zameendars, DHA like Real Estate
0
KU May 15, 2024 12:24pm
The true state of industrial/agriculture misery with millions unemployment, inflation, etc., does not make the equation. And no action on untaxed n Rs.500 billion corruption in FBR, so laugh it up!
0
Usman Ishfaq May 15, 2024 05:55pm
I need loan
0
Tariq Qurashi May 16, 2024 10:19am
I hope these additional funds are going to come from a larger tax base and new tax payers, and not "flogging the dead horse" of the old taxpayers.
0
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