May 15, 2024
FBR proposes new tax measures to meet fiscal targets
Outlines plans to raise over Rs 1.3 trillion through additional taxes and sector reforms, pending Finance Minister's approval.
May 15, 2024
The Federal Board of Revenue (FBR) has proposed new taxation measures aimed at generating between Rs 1.2 trillion and Rs 1.3 trillion to achieve a revenue collection target of Rs 11.6 trillion to Rs 11.7 trillion for the fiscal year 2024-25.
According to a news report, the FBR has presented initial budget proposals to the International Monetary Fund (IMF).
The proposals include imposing additional taxes, removing exemptions and zero-ratings, and taxing the real estate and retail sectors.
The final amount will be determined in the coming days. These proposals are pending approval from the Finance Minister.
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