Govt not to increase sales tax in budget: FBR
Member FBR Shahid Hussain Asad says rate of sales tax will remain 17 percent in upcoming budget.
Federal Board of Revenue (FBR) has said the government has decided not to put extra burden on masses through increasing sales tax in upcoming budget.
Member FBR Shahid Hussain Asad revealed this while talking to Radio Pakistan's correspondent Haroon Baloch in Islamabad on Wednesday. He said 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.
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.