In a move to meet the revenue generation targets set under new budget, the federal government has set a target of collecting Rs750 billion on account of the petroleum development levy in the next fiscal year 2022-23.
According to Budget documents, the federal government has set a target to collect Rs750 billion on account of the PDL in the next fiscal year 2022-23.
The government has estimated to collect Rs135 billion on account of PDL during the outgoing fiscal year.
Overall, the target of FBR taxes would be Rs7,004 billion which includes Rs2,573 billion direct taxes and Rs4,431 billion indirect taxes.
The direct taxes include Rs2,528 billion taxes on income, Rs515 million capital gains value, Rs6.947 billion ordinary collection (WWF) and Rs7.46 billion contribution under companies’ profits.
On the other hand, the indirect taxes include Rs953 billion customs duty, Rs3,076 billion sales tax and Rs402 billion federal excise duty.
Budget document states that the government has estimated to collect Rs10 billion from mobile handset levy, Rs25.09 billion receipts of ICT administration and Rs53 million airport fees.
The government is also projected to collect Rs200 billion on account of Gas Infrastructure Development Cess, Rs5 billion Petroleum Levy on LPG, Rs70 billion Royalty on Gas, Rs46 billion Royalty on Oil, Rs40 billion Natural Gas Development Surcharge and Rs35 billion on Citizenship, Naturalization & Passport Fee.
According to the budget document, the government is estimated to collect Rs50 billion on account of PTA (4G/5G Licences), Rs9 billion PTA (Surplus), Rs695 million Surplus Profit from other Regulatory Authorities, Rs39.6 billion Mark up (Provinces), Rs100 billion Mark up (PSEs & Other) and Rs80.3 billion on account of dividends.
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