‘Instead, with the introduction of the new bill, the FBR revenues would go down by Rs6.8 billion’
ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday categorically rejected the news reports that additional Rs12 billion new taxes have been imposed through the Finance Supplementary (Second Amendment) Bill 2019.
“Instead, with the introduction of the new bill, the FBR revenues would go down by Rs6.8 billion,” said a statement issued by the FBR.
The FBR termed such news reports as misleading and clarified that no new taxes have been imposed through the bill. The statement added that the government has enhanced excise duties on import of 1,800CC and above engine power vehicles to reduce import bill and to generate additional Rs3 billion in taxes.
The statement continued said that through this bill, relief measures of around Rs10 billion have been taken and collectively, it would reduce revenues of Rs6.8 billion for providing relief to the business people.