Here Are Some Expected Tax Changes in Budget FY2023-24

The FY 2023-24 federal budget is likely to be presented to Parliament next week. Sources told ProPakistani that the government is planning several new taxes to increase revenue, with the IMF program still nowhere to be found and economic woes worsening each day. The sources informed us that sales tax on imported milk for children may increase from 12 percent to 18 percent. Packaged meat and fish will get an 18 percent sales tax as well. The government is also planning to maintain the sales tax increase in the mini-budget of February with an 18 percent sales tax on the E & F categories of the ninth schedule. The 18 percent sales will also remain unchanged on items of daily use as well as tea, jam, jelly, soaps, detergent, toothpaste, toothbrush, mouth freshener, packed green tea, packed condiments, meat grinding powder, and dishwashing liquids.