ISLAMABAD, Jun 11 (APP):The Federal Board of Revenue (FBR) on Friday clarified a news item regarding the sales tax expenditure published by sections of media, quoting the Economic Survey of Pakistan for the year 2021-22.
According to FBR press release, the said news item reported tax expenditure on account of sales tax was as Rs. 1,014.5 billion, with an increase of 75.4% over last year and the overall tax expenditure as Rs. 1757 billion.
The FBR while clarifying its position stated that after the final revision of “Tax Expenditure Report”, the reconciled sales tax expenditure is reported as Rs. 739.8 billion showing an increase of 27.9% over last year.
The overall Tax expenditure after this revision is
Rs. 1,482.3 billion showing an increase of 12.8% over the previous year”.