Rs12,970 Billion Tax Collection Target Set by FBR for FY2024-25

News Desk1 hour ago

Tomorrow (Wednesday), the coalition government led by the PML-N will unveil the budget 2024–25.

According to people with direct knowledge of the situation, the budget for 2024–2025 will include direct taxes of Rs3452 billion and custom duties of Rs267 billion.
Proposals have been made for new taxes on income, capital gains, sales, services, FED, and other areas.

Previous reports indicated that since Pakistan has been “asked” by the International Monetary Fund (IMF) to further cut sales exemptions, inflation is expected to rise in the government budget for 2024–2025.

Read more: Pakistan Budget 2024-25: SUPARCO Allocation Set at Rs 65.6 Billion

Information reveals that the costs of milk, tea, sugar, rice, flour, and packaged milk are probably going to go up in the budget for 2024–2025 since Islamabad has been asked by an overseas lender to lessen the sales tax exemptions for new loans.

According to the sources, pressure is being applied to terminate tax exemptions in FATA and PATA by June 30. The IMF has urged that a 5–10% sales tax be imposed on the zero-rated sales tax sector.

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