ISLAMABAD: The federal government plans to present a mini-budget ahead of the International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF). The primary goals of the budget are to increase general sales tax (GST) on properties, tractors, and other items, as well as to crack down on tax evaders and raise approximately Rs650 billion in revenue.
But according to an article in The News, it’s unclear how much money will be collected through more taxes and enforcement actions.
In order for the Federal Bureau of Revenue (FBR) to announce the updated rates in the upcoming weeks, the government has also consented to raise the value tables for real estate in 42 cities by the end of September 2024, another need put forth by the global lender.
