Islamabad: FBR has proposed to set a tax collection target of 12,900 billion rupees for the next financial year 2024-25, to achieve which new taxes of 1500 billion rupees have been proposed in the next budget.
According to the sources, in the briefing given to the Prime Minister, FBR has proposed to impose new taxes of more than 1500 billion rupees in the next financial year.
According to the sources, proposals to increase tax duties on imported goods, ending sales tax exemption on food items, withholding tax, ending sales tax exemption, increasing the rate of customs duties were also included in the briefing.
Increase in sales tax rate on supply of imported food items and sales tax on solar panels have also been suggested. The IMF has imposed a condition to eliminate all tax exemptions in the budget.
