FBR proposes Rs1.3trn new taxation measures

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed new taxation measures to the tune of Rs 1,200 billion to Rs 1,300 billion to meet the estimated revenue collection target within the range of Rs11.6 trillion and Rs 11.7 trillion for 2024-25.

Sources told Business Recorder that the FBR has shared the initial sketch of budget proposals with the International Monetary Fund (IMF).

The FBR has chalked out new taxation measures including additional taxes, withdrawal of exemptions and zero-ratings and taxation of real estate/retail sectors.

The FBR has estimated to collect Rs 1.2 trillion to Rs 1.3 trillion through revenue measures for the next fiscal year. The exact figure would be finalized in the next few days.

The budgetary proposals of the FBR have yet to be approved by the Finance Minister.