1.1m new taxpayers brought in tax net
Business
BISP budget increased to Rs450billion
ISLAMABAD (Dunya News) – The Federal Board of Revenue (FBR) has brought in over 1.1million new taxpayers in the tax net, the Ministry of Finance sources said on Friday.
According to the Finance Ministry, the imposition of withholding tax of 0.6 per cent on the withdrawal of of Rs50,000 is a landmark measure while tax exemption of billions of rupees for various sectors in the budget is for economic development, which means to create opportunities for the commoners.
The relief steps are not restricted just to the deserving citizens of the BISP, while the BISP amount has also been raised from Rs400billion to Rs450billion.
Sources said the BISP budget was Rs350billions during February 2023 which was raised to Rs400 billion while billions of rupees targeted subsidies had been set aside for the deserving citizens.
Five household items have been subsidized with a targeted subsidy of Rs35billion, the sources reported.
