The federal government gave tax exemptions worth Rs. 5.84 trillion to various sectors during the ongoing fiscal year, with the largest share in the form of sales tax relief, the Economic Survey revealed today.
Sales tax exemptions alone accounted for over Rs. 4,253 billion, including Rs. 87.95 billion specifically waived on mobile phones.
Income tax exemptions amounted to more than Rs. 800 billion, while customs duty exemptions stood at over Rs. 785 billion.
The document further revealed that tax exemptions worth Rs. 133 billion were granted to the automobile and CPEC-related sectors, and Rs. 178 billion in customs duty was waived for the export sector.
Additionally, areas under the former FATA and PATA regions received tax exemptions totaling Rs. 61 billion.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan