ByFBR Unveils Tax Proposals for FY 2024-25
- Federal Board of Revenue (FBR) has proposed new tax measures to generate Rs 1.2-1.3 trillion.
- This aims to achieve the government’s revenue collection target of Rs 11.6-11.7 trillion for the upcoming fiscal year.
- The proposals include a combination of additional taxes, reduced exemptions, and broadening the tax net to new sectors like real estate and retail.
Meeting Budgetary Needs and IMF Requirements
- These proposals are part of the initial budget discussions with the International Monetary Fund (IMF).
- The final figures and specific tax measures will be finalized in the coming days and require approval by the Finance Minister.
Potential Tax Changes on the Horizon
- Pakistanis may see new taxes, reduced exemptions on existing taxes, and potentially an expansion of taxable goods and services.
- Sectors like real estate and retail may face increased tax scrutiny and potential new levies.
Uncertainties Remain
- The specific details of the tax proposals are still under discussion and await final approval.
- The impact on businesses and individuals will depend on the final tax structure implemented.
Following Developments
- Stay tuned for further updates as the details of these tax proposals are finalized and announced by the Pakistani government.
