Govt’s Staggering Tax Exemption Bill Revealed
Pakistan granted more than Rs. 11 trillion in tax exemptions over five years, according to figures presented by the Ministry of Finance in the National Assembly.
Pakistan granted more than Rs. 11 trillion in tax exemptions over five years, according to figures presented by the Ministry of Finance in the National Assembly.
Article outline
- What happened
- Background
- The details
- The bottom line
Key points
- 2 trillion annually for four consecutive fiscal years, from 2021 to 2022 through 2024 to 2025.
- 2.54 trillion in fiscal year 2022 to 2023 before declining to Rs.
- Parliamentary Secretary Barrister Saad Wasim remarked the tax exemptions had been granted to improve the tax system.
- The figures were disclosed in a written response to a question raised by lawmaker Shaista Parvez.
- According to the Ministry of Finance, Pakistan granted Rs.
In practice, the figures were disclosed in a written response to a question raised by lawmaker Shaista Parvez. The ministry provided a breakdown of tax exemptions granted annually over the five year period. Pakistan Eyes $500 Million Bond Raise Without Global Bank Guarantees. Tax Exemptions Exceed Rs. 2 Trillion Annually.
According to the Ministry of Finance, Pakistan granted Rs. 1.48 trillion in tax exemptions in fiscal year 2020 to 2021, followed by Rs. 2.24 trillion in fiscal year 2021 to 2022.
For context, the amount rose to Rs. 2.54 trillion in fiscal year 2022 to 2023 before declining to Rs. 2.43 trillion in fiscal year 2023 to 2024. Tax exemptions stood at Rs. 2.35 trillion in fiscal year 2024 to 2025.
Tax exemptions remained above Rs. 2 trillion annually for four consecutive fiscal years, from 2021 to 2022 through 2024 to 2025.
Parliamentary Secretary Barrister Saad Wasim remarked the tax exemptions had been granted to improve the tax system. Stay Connected with ProPakistani.
Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.
For now, govt's Staggering Tax Exemption Bill Revealed remains the part of the story worth watching, and further updates are likely as more details are confirmed.
