For the upcoming fiscal year (2023-24), the government has projected tax revenues of Rs. 9.2 trillion for the Federal Board of Revenue (FBR).
In order to fulfil the yearly tax collection target of Rs. 7.64 trillion by the end of 2022-23, the FBR must collect Rs. 2.58 trillion in federal taxes during the final quarter (April-June).
FBR recommends tax implementation for officials
Also, ICAP wants the government to abolish tax breaks for senior military and government officials.
The meeting was held at Finance Division on Monday and was presided over by Senator Mohammad Ishaq Dar, the Federal Minister for Finance and Revenue.
Dr. Ayesha Ghous Pasha, Minister for States for Finance and Revenue; Tariq Bajwa, SAPM on Finance; Tariq Mehmood Pasha, SAPM on Revenue; Ashfaq Yousuf Tola, Chairman, RRMC; Secretary, Finance; Chairman, FBR; and other top officers from the Finance Division and FBR were present.
Asim Ahmad, Chairman of the Federal Board of Revenue, presented and reviewed in depth the proposed budget for Federal Fiscal Year 2023-24.
Finance Minister Senator Mohammad Ishaq Dar reaffirmed the government’s commitment to presenting a budget that is both business and people-friendly. He also stressed the government’s determination to guarantee that the new budget benefits all economic sectors equally and that resources are distributed fairly.
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