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Minimal tax for poor, mediocre in 2024-25 budget: PM Shehbaz Sharif

Minimal tax for poor
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June 14, 2024 (MLN): Prime Minister Shehbaz Sharif has said that the government has levied minimum tax on mediocre and poor segments of society in the fiscal budget 2024-25.   

He made these remarks while chairing a high-level review meeting in Islamabad yesterday, on tax reforms, digitization of the economy and measures to increase revenues, according to the Information Ministry.

The Prime Minister said during the preparation of the budget, he gave clear directives that the elites must pay taxes and tax evaders, tax defaulters should be nabbed.

He urged that complete digitization of the tax system, increasing workforce efficiency; reducing the tax rate and increasing the number of taxpayers are among the government's topmost priorities.

He further highlighted the Federal Board of Revenue as an important wheel of the country's economy and pledged to provide all resources for development and digitization of FBR.   

During the meeting, International firm McKinsey and Karandaaz apprised the Prime Minister of the progress made in the last four weeks regarding digitization of FBR and increase in revenues.

Short and medium term plans to enhance revenue were also presented to the Prime Minister.

The meeting was briefed that digitization and automation of the value chain of the country's economy will increase revenues.

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Posted on: 2024-06-14T10:43:15+05:00