The total tax exemptions and concessions to various businesses, sectors/industries, lobbies/ groups and investors have cost the govt. PKR 1,314.3Bn during FY21 against PKR 1,149.95Bn in FY20, reflecting an increase of PKR 164.35Bn. The cost of tax exemptions registered a growth of 14.36% as compared to tax expenditure in FY20. The Economic Survey 2020-21 disclosed that single-largest contributor to the surge in sales tax exemptions was the exemption from sales tax on imports, showing a massive revenue loss of PKR 173.808Bn.
11/6/2021