Govt not to increase sales tax in budget: FBR


ISLAMABAD: Federal Board of Revenue (FBR) said the government has decided for not increasing sales tax in the upcoming budget.

In an interview with Radio Pakistan, Member FBR Shahid Hussain Asad said that rate of sales tax will remain 17 percent in the budget. He said instead of increase in sales tax, FBR will reinforce its collections mechanisms.

Responding to a question regarding shortfall in revenue collections for current fiscal year, he said FBR has taken special initiatives to meet 2345 billion rupees’ target. It is worthy to note that FBR, in last two months of current financial year, has to collect slightly over 600 billion rupees.

Shahid Hussain rejected reports of imposing any emergency in FBR to achieve this target, and said there is no need for such. He expressed confidence that FBR will cover the shortfall.

To another question, he said FBR cannot end 500 billion rupees tax exemptions due to several international agreements such as preferential trade agreements (PTAs) with different countries.

Responding to a question regarding shortfall in revenue collections for current fiscal year, Shahid Hussain Asad said FBR has taken special initiatives to meet the target of 2345 billion rupees.

He rejected reports of imposing any emergency in FBR to achieve the target. He expressed confidence that FBR will cover the shortfall.

(APP)

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