The government has announced new taxation/enforcement measures of nearly Rs 1,800 billion through withdrawal of exemptions and increase in withholding tax rates on buying/selling of properties, increased tax rates on late-filers, higher tax on salaried/non-salaried classes and retailers and 18 percent sales tax on mobile phones, dairy products (milk) and 5 percent Federal Excise Duty (FED) on commercial properties to meet target of Rs 12,970 billion for 2024-25. This was stated by Federal Board of Revenue (FBR) Chairman Amjad Zubair Tiwana while giving technical briefing to the media on Finance Bill 2024 at the FBR Headquarters here on Wednesday. (Business Recorder)
13/6/2024