The government has prepared to impose heavy taxes in the upcoming budget
Islamabad: FBR has proposed a target of collecting Rs. 12.9 trillion in taxes for the fiscal year 2024-25, for which new taxes amounting to Rs. 1.5 trillion have been proposed in the next budget.
Private TV channel “Express News” claimed from sources that during the briefing given to the Prime Minister, FBR has proposed new taxes exceeding Rs. 1.5 trillion for the upcoming fiscal year. The Prime Minister has directed to finalize the proposals.
According to sources, the briefing included proposals such as increasing taxes on income items, ending sales tax exemption on food items, withholding tax, abolishing sales tax exemption, and increasing the rate of customs duties.
The proposal also includes increasing the sales tax rate on income items and imposing sales tax on solar panels. The IMF has imposed a condition in the budget to abolish all tax exemptions.