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Rs3.734b collected on account of indirect tax

Rs3.734b collected on account of indirect tax

KARACHI: Federal Board of Revenue (FBR) collected Rs3.734 billion additional revenue on account of indirect tax owing to budgetary steps.

The Board generated additional revenue up to Rs640.93 million after raising standard rate of sales tax from 16pc to 17pc in local supplies as the impact of this increased rate on imports stood at Rs2.68 billion.

Likewise, FBR collected Rs131.26m from 1pc further tax on taxable supplies to unregistered individuals while Rs220.738m from withdrawal of 50pc exemption to KP selected districts, Fata and Pata, and Rs52.9m from withholding of whole amount of sales tax on purchases made from unregistered persons.