Summary FBR is expected to gain Rs 300 billion as taxes as a result of the increase in the rate of inflation
ISLAMABAD (Dunya News) – Federal Board of Revenue (FBR) has announced that a scheme shall be introduced in regards to bringing back the investment kept in offshore companies back to Pakistan, reported Dunya News on Monday.
The institution is all set to take action against all those involved in tax evasion and hiding their investments. Furthermore, FBR is expected to gain Rs 300 billion as taxes as a result of the increase in the rate of inflation.
FBR has also taken notice of the earnings made by Pakistan Cricket Board (PCB). For the first time in history, the institution has accepted the sixty million cell-phone users in the country as taxpayers. FBR officials have stated that an additional 2% sales tax has been implemented on the non-registered retailers across the country.
Furthermore, the consumers shall have to pay 5% sales tax on purchasing exported goods from local markets, FBR officials said. In this regards, the prices of clothing goods, footwear and leather products can increase.
