The International Monetary Fund (IMF) has agreed to set a tax collection target of Rs 9200 billion during the next financial year.
According to sources, the tax collection target for the next financial year has been set at Rs 9200 billion.
In the next financial year, taxes of more than 1600 billion rupees will be collected, taxes of 510 billion rupees have been invested in the mini budget, new taxes of 200 billion rupees will be levied through the finance bill.
In total, FBR will collect 1900 billion more in the next financial year compared to the current financial year.
For non-filers, mutual funds, real investment trusts have been taxed at over 30%.
A finance bill has been prepared according to which the withholding tax on imported luxury goods will be increased in the budget.
It has been decided to double the withholding tax for non-filers in the property sector.
According to the finance bill, it has been decided to increase the tax levied on the retail sector and wholesale in the upcoming budget.
For non-filers, the withholding tax will be increased on those who buy and sell prize bonds.
According to the finance bill, the withholding tax on imported goods will be increased under clause 148.
Withholding tax on purchase and sale of plots in the property sector will be double for non-filers.
In the budget, it has been decided to double the rate of withholding tax for non-filers compared to filers.
It has also been decided to take strict measures to document real estate transactions in the upcoming budget.
According to the finance bill, unused residential, commercial, industrial plots and farmhouses will be taxed.
According to FBR sources, it has been decided to impose withholding tax on machinery and commercial rent.
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