New taxes, duties, exemptions withdrawal to fetch PKR 600Bn

The govt. has announced additional tax rises worth PKR 600Bn, including levies on salaried persons and consumable goods, withdrawn exemptions, and increased duties on imports to plug a revenue shortfall in FY20 caused by flagging economic growth. The govt. has abolished zero-rating regime for five export-oriented sector, imposing 17% GST on manufacturers that would fetch PKR 85-90Bn. It has. It however slapped GST at reduced rate of 15% at retail stage.

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