FLASHNEWS:

FBR Proposes New Tax Measures to Achieve Fiscal Revenue Targets

Islamabad, The Federal Board of Revenue (FBR) has unveiled a series of new tax measures aimed at boosting revenue collection to meet the fiscal year 2024-25 targets, with plans to generate between PKR 1.2 trillion and PKR 1.3 trillion.

According to Zameen.Com, the FBR's preliminary budget proposals have been presented to the International Monetary Fund (IMF). These proposals include implementing additional taxes, removing exemptions and zero-ratings, and imposing new taxes on the real estate and retail sectors. The measures are part of an effort to reach a total revenue goal of PKR 11.6 trillion to PKR 11.7 trillion for the upcoming fiscal year.

The proposed tax strategies are currently awaiting approval from Finance Minister Muhammad Aurangzeb. The final decision on the exact revenue figure and the implementation of these new measures will be made shortly, reflecting the FBR’s commitment to aligning Pakistan’s fiscal policies with its economic objectives.