With an increase of half a trillion rupees in the FBR revenue target, all the devils of this budget are in the finance bill. New revenue measures of almost Rs120bn have been announced. Another 12pc increase is expected from inflation and growth combined. The sales tax carries the bulk of this burden, followed by income tax and then the FED.
ISLAMABAD: In its fifth budget, the PML-N government has imposed around Rs120bn worth new taxes. The new finance bill contains a mix of revenue and relief measures — income tax, customs, sales tax and federal excise duty (FED) for all sectors of the economy.
The breakdown of the new tax measures shows an amount of Rs47.4bn worth income tax measures, Rs52.6bn of sales tax and FED and Rs20bn customs duty.
The relief measures announced are worth Rs32.5bn. Of them, Rs1.2bn relief was given in customs, Rs18.7bn in sales tax and FED and Rs12.6bn in income tax.
