Tarin said import contraction and almost zero sales tax on petroleum products may slash the revenue by Rs275-300 billion. In addition to this, Pakistan Customs’ tax target has also been revised upwards to over Rs1 trillion against the original target of Rs917 billion. The government has introduced a Rs360 billion mini-budget, including the imposition of 17% sales tax on the raw material of medicines. The FBR missed the January tax target by Rs27 billion. Last month, the FBR missed the targets of sales tax, federal excise duty and customs duty.

Source: The Express Tribune February 10, 2022 08:53 UTC