Govt. unlikely to increase taxes in next budget

FBR has stated that govt. is unlikely to increase taxes in the upcoming budget of FY19 however it might take some measures to provide relief to business community. State Minister for Finance Rana Afzal has also stated earlier that govt. would present pro-people budget for the next fiscal year 2018-19. The govt. has decided to fix tax collection target at PKR 4.5Tn FY19 as against PKR 4Tn set for the ongoing FY18. The govt. would also increase the current income tax exemption threshold of PKR 400, 000 per annum.

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