Federal Government Decide to Imposes New Taxes of 2000 Billion in Budget As the federal government is going to present the budget for 2024 and 2025۔In which the government has added some more taxes to collect a revenue of 2 thousand billion rupees۔In which 5% sales tax will be levied on petroleum products۔And some other new taxes will be imposed۔According to the report of the Federal Board of Revenue۔600 billion revenue will be earned through five percent sales tax on petrol۔Apart from this, above all unnecessary sales tax exemptions have been proposed within the budget
Federal Government Decide to Imposes New Taxes of 2000 Billion
The government says the sales tax rate is likely to increse by 1%.From which additional revenue of billions of rupees will be earned.From which there is also a fear of some increase in inflation
FBR Department say that the rate of sales tax will also increase from 18% to 19%. in the Budget 2024-25. According to FBR Report all the tax proposals for the coming budget have been shared with the International Monetary Fund (IMF) and after Deep Discussion with the IMF, they will be presented this budget in the federal cabinet meeting for final approval There is a possibility of change.
On other Side An additional revenue of 50 billion rupees is estimated in Budget 2024 from increasing the rate of commercial importers’ duties
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