Tax Exemptions on Essential Food Commodities to Continue in FY23 Budget: FBR Chairman

Federal Board of Revenue (FBR) Chairman Asim Ahmad has said that the sales tax exemptions on essential food commodities and items would not be withdrawn in the next federal budget (2022-23).

He was responding to different queries of reporters at the Parliament House on Wednesday.

FBR Chairman said that the International Monetary Fund (IMF) and the FBR would have discussions on the withdrawal of tax exemptions in the coming budget. The tax exemptions would be withdrawn in the coming budget, but the exemption on essential food commodities would continue to facilitate the general public.

The items consumed by the general public would not be subjected to the sales tax and these necessary exemptions would continue in the next fiscal year.

Presently, the FBR’s field formations are fully focused on the achievement of the upward revised revenue collection target of Rs. 6.1 trillion. The FBR is confident to achieve the revenue collection target of Rs. 6.1 trillion by the end of 2021-22, FBR Chairman said.

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ProPK Staff