Tax exemption in Pakistan: Rs11,000bn waived over five years
Tax exemption in Pakistan totalled over Rs11,000bn from FY2020-21 to FY2024-25, Finance told the National Assembly, with yearly sums above Rs2,300bn in recent years.
Finance told the National Assembly that exemptions and concessions topped Rs11,000bn from FY2020-21 to FY2024-25.
Annual totals ran from Rs1,482bn in 2020-21 to a peak of Rs2,540bn in 2022-23, then Rs2,352bn in each of the next two years.
JUI MNA Alia Kamran asked what ordinary citizens gained and whether 2027 would end IMF borrowing; the parliamentary secretary hoped so but gave no firm pledge.
A mini-budget is under discussion for the new auto policy, including about Rs85bn in EV sales-tax relief at a 1% rate on cars up to $75,000.
Offset ideas include an Automotive Development Levy, possible FED on costly EVs, a carbon levy, and other vehicle charges aimed at tens of billions in revenue.