Islamabad: The government is planning to introduce new tax measures equalling PKR 775 billion in the fiscal year 2019-2020, according to a news report. This was decided after a detailed revenue plan was drawn up by the tax bureaucracy, and shared with the International Monetary Fund (IMF).
This plan has been approved by the cabinet, after some relevant changes were made. The Federal Board of Revenue (FBR) is in the process of making its own plan. FBR Chairman Shabbar Zaidi stated that the details of this plan would be shared soon, and that existing taxpayers would not be targeted more severely. As per this plan, the tax base would be broadened, and the target revenue generated.
These figures are being calculated on the assumption that FY 2019-20 would experience a growth rate of four-percent per annum, with inflation to stay within the 9.4% limit.
