Tax exemptions and concessions reached Rs 2.35 trillion in the current fiscal year
Published 1 hour ago | By Pak24tv
The federal government has revealed that it will provide exemptions, concessions and incentives worth a total of Rs 2,352.81 billion (approximately Rs 2.35 trillion) in duty and tax exemptions, concessions and incentives to various classes, including the elite, in the current fiscal year 2025-26.
This amount is less than the incentives of Rs 2,434.73 billion in the previous fiscal year, however, this is a big question mark in the context of IMF demands and the FBR’s revenue shortfall.
According to the report:
Tax expenditure related to income tax: Rs 579.7 billion (largest exemption from total income Rs 437.99 billion)
Tax expenditure related to sales tax: Rs 1,273.98 billion (highest)
Tax expenditure related to customs duty: Rs 499.14 billion
Authorities say that while some exemptions are valid, there are a large number of exemption recipients from whom withdrawal of these exemptions will not have any significant impact.
The figures were released along with the Economic Survey.
