Govt sets highly ambitious sales tax target of Rs2,560 billions

ISLAMABAD (Dunya News) - The federal government has set highly ambitious sales tax target of Rs2,560 billions in the next budget.

Sources said that the next financial year will have to achieve 30% growth as compared to the current financial year. A sales tax target of Rs2500 billion has been set on goods during the next financial year 2021-22. Sales tax target of Rs6.61 billion has been set on services.

According to sources, sales tax of Rs 1415 billion was collected from July to March of the current financial year. The sales tax target for the same period in current financial year is more than Rs1925 billion. In the financial year 2018-19, Rs 1250 billion was collected from July to March.