Islamabad: The Federal Board of Revenue (FBR) has suggested new measures in the finance bill 2024-2025.
Sources said that removing the tax exemption commodities from 5th and 6th schedule are under consideration.
The zero tax on many commodities of sales tax is likely to end. The FBR sources said that the draft is under preparation for limiting the exempted commodities list.
Sources said that after removing the tax exemption on commodities will be added in new list of the finance bill and then will be included in the budget.
However, the tax exemption on commodities will continue for diplomats and for investors from abroad.
Meanwhile it is suggested that to continue tax exemption in the fields of health and medical and investment agreement brokered with China.
A sales tax notification will be issued after removing tax exemption on the commodities.
Many types of commodities supplied to the local markets will be imposed sales tax. Sources said that after removing the exemptions on many commodities will be imposed 18 percent tax.
Those commodities having sales tax zero will be imposed a tax.
