Cash, Solar, Telecom Taxes Likely to Be Hiked
The federal government has proposed additional tax measures worth Rs200 billion to address the revenue shortfall in the second half of the current fiscal year.
Officials said the proposals shared with IMF during a recent staff-level agreement include levies on non-filers, solar panel imports, and telephone users.
The FBR chairman denied any plans for a mini-budget, but the IMF was informed about a contingency plan for possible tax hikes if revenues fall short.
These proposed measures are designed to meet conditions tied to the next installment of the $7 billion IMF loan program, ensuring continued financial support for Pakistan.
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Officials warned that continued revenue shortfalls may require additional taxes, potentially affecting the disbursement of the IMF loan program.
Key proposals include raising the tax on cash withdrawals by non-filers from 0.8% to 1.5%, increasing sales tax on solar panels, and hiking mobile and landline call taxes.
The government has also proposed imposing a 16% Federal Excise Duty on consumer goods, including biscuits, sweets, and chips, to generate additional revenue for fiscal targets.
The FBR reported a Rs198 billion shortfall in the first quarter, collecting Rs2,885 billion against a target of Rs3,083 billion, underscoring the need for new tax measures.
