ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said that standard rate of sales tax has been enhanced to 18 per cent to increase the tax to GDP ratio.
ISLAMABAD: Pakistan has failed to achieve a double digit tax-to-GDP ratio during past 22 years despite phenomenal growth in revenue collection over the years.
LAHORE: President Dr Arif Alvi on Saturday said Pakistan must enhance its tax collection and the tax-to-GDP ratio to overcome its perennial financial woes. He was addressing an awareness seminar about the role of the Federal Tax Ombudsman in Lahore. The President urged the need to facilitate tax-payers by dispensing speedy and cost-effective justice to […]
ISLAMABAD: Pakistan’s tax to GDP ratio has improved to 9.2 per cent in the fiscal year 2021-2022, the Federal Board of Revenue (FBR) said. In Pakistan, although the tax to GDP ratio has been low compared to other regional countries yet if viewed over the past so many years this ratio has significantly increased. “The […]
ISLAMABAD: Pakistan’s tax to GDP ratio has been estimated at 10.8 per cent for the fiscal year 2021/2022 as against the ratio of 8.5 per cent in the preceding fiscal year, according to Economic Survey of Pakistan 2021/2022 released on Thursday. The tax to GDP ratio has been estimated on the basis of tax collection […]
ISLAMABAD: Finance Minister Shaukat Tarin on Tuesday said the International Monetary Fund (IMF) wanted Pakistan to improve tax to GDP ratio to 20 per cent through structural changes. Improving tax to GDP ratio to 20 per cent from 9 per cent is in the benefit of the country, he added. Addressing to the interactive session […]
Finance Minister Shaukat Tarin has said that the prime objective of the government to take the tax-to-GDP ratio to 20 per cent in coming years which currently stood at 8-12 per cent. The finance minister said this while inaugurating Track & Trace System of Federal Board of Revenue (FBR) a day earlier at Pakistan Tobacco […]
ISLAMABAD: The Federal Board of Revenue (FBR) is projecting tax-to-GDP ratio at 12 percent in three years after slippage of the ratio to a single digit in 2019/2020, a report said. The FBR’s collection to the GDP has been dropped to 9.6 percent in fiscal year 2019/2020, which the tax authorities realized that the ratio […]
ISLAMABAD: Tax to GDP ratio has slipped to 11.4 percent in fiscal year FY20 (2019/2020) when compared with 11.6 percent in the preceding fiscal year, according to statistics released by the finance ministry. The size of Gross Domestic Product (GDP) has been measured at Rs41,727 billion in fiscal year 2019/2020 as compared with Rs38,559 billion […]
ISLAMABAD: Pakistan’s tax to GDP ratio likely fall to 11 percent as losses due to coronavirus lockdown on tax revenue has been estimated at around Rs1,023 billion in current fiscal year. The tax to GDP ratio was actually estimated at 12.8 percent for tax year 2019/2020. However, it is projected at 11 percent after the […]