{"id":92179,"date":"2023-02-10T12:42:34","date_gmt":"2023-02-10T07:42:34","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=92179"},"modified":"2023-02-10T15:19:47","modified_gmt":"2023-02-10T10:19:47","slug":"fbr-impose-new-taxes-shortfall","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html","title":{"rendered":"FBR ready to impose new taxes to bridge shortfall"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall incurred in the tax year (TY) 2022-23, the news sources reported on February 10. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-tax-law-increase-revenue.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to enact tax law amendments to increase revenue<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The FBR Tax Laws Amendments Ordinance, 2023, which will be presented before the federal cabinet for final approval will include tax measures including a 1% increase in the standard rate of sales tax from 17% to 18% and changes in the withholding tax regime to stopgap the shortfall. The new tax ordinance, if approved, is estimated to generate a total revenue of approximately PKR 355 billion. Some of the proposals include increasing the standard rate of <a href=\"https:\/\/www.zameen.com\/news\/tax-gap-analysis-2022-fbr-income-tax.html\" target=\"_blank\" rel=\"noreferrer noopener\">sales tax on petroleum <\/a>products, raising the rates of withholding taxes, imposing a tax on sugary drinks, and imposing a tax on banks&#8217; foreign exchange income. Other proposals include a tax on banking transactions of non-filers, a flood levy, increased capital value tax rates on imported and locally-assembled vehicles, and an increase in the rate of advance tax on the purchase\/sale of <a href=\"http:\/\/FY2021-22: FBR collects PKR 81 bn from property transactions\" target=\"_blank\" rel=\"noreferrer noopener\">immovable property.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-tax-target-january.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR exceeds tax target by PKR 4 bn in January<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is important to mention that the government has set a tax target of PKR 7.4 trillion for the current fiscal year. However, the FBR fell short of the total revenue collection predictions in the second quarter of the current fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall incurred in the tax year (TY) 2022-23, the news sources reported on February 10. Read: FBR to enact tax law amendments to increase revenue The FBR Tax Laws Amendments Ordinance, 2023, which will be presented before the federal cabinet for final approval will include tax measures including a 1% increase in the standard rate of sales tax from 17% to 18% and changes in the withholding tax regime to stopgap the shortfall. The new tax ordinance, if approved, is estimated to generate a total revenue of approximately PKR 355 billion. Some of the proposals include increasing the standard rate of sales tax on petroleum products, raising the rates of withholding taxes, imposing a tax on sugary drinks, and imposing a tax on banks&#8217; foreign exchange income. Other proposals include a tax on banking transactions of non-filers, a flood levy, increased capital value tax rates on imported and locally-assembled vehicles, and an increase in the rate of advance tax on the purchase\/sale of immovable property. Read: FBR exceeds tax target by PKR 4 bn in January It is&hellip;<\/p>\n","protected":false},"author":84,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[3362,54453,56274,52979],"persona":[],"class_list":["post-92179","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-fbr","tag-fbr-news-and-updates","tag-fbr-ready-to-impose-new-taxes-to-bridge-shortfall","tag-fbr-taxes","cat-15015-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR ready to impose new taxes to bridge shortfall - Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR ready to impose new taxes to bridge shortfall - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-10T07:42:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T10:19:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nauman Ahmad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nauman Ahmad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR ready to impose new taxes to bridge shortfall - Zameen News","description":"The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html","og_locale":"en_US","og_type":"article","og_title":"FBR ready to impose new taxes to bridge shortfall - Zameen News","og_description":"The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall...","og_url":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2023-02-10T07:42:34+00:00","article_modified_time":"2023-02-10T10:19:47+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","type":"image\/jpeg"}],"author":"Nauman Ahmad","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Nauman Ahmad","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html"},"author":{"name":"Nauman Ahmad","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/7c97aa4f0e951051355a81418f98ed1a"},"headline":"FBR ready to impose new taxes to bridge shortfall","datePublished":"2023-02-10T07:42:34+00:00","dateModified":"2023-02-10T10:19:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html"},"wordCount":241,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","keywords":["FBR","FBR news and updates","FBR ready to impose new taxes to bridge shortfall","FBR taxes"],"articleSection":["Legal &amp; Taxation"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html","url":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html","name":"FBR ready to impose new taxes to bridge shortfall - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","datePublished":"2023-02-10T07:42:34+00:00","dateModified":"2023-02-10T10:19:47+00:00","description":"The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures worth PKR 300 billion to bridge the income shortfall...","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/fbr-impose-new-taxes-shortfall.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"FBR ready to impose new taxes to bridge shortfall"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/7c97aa4f0e951051355a81418f98ed1a","name":"Nauman Ahmad","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/Picture1-96x96.png","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/Picture1-96x96.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/Picture1-96x96.png","caption":"Nauman Ahmad"},"description":"Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.","sameAs":["https:\/\/www.zameen.com"],"url":"https:\/\/www.zameen.com\/news\/author\/nauman_ahmad"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/92179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=92179"}],"version-history":[{"count":4,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/92179\/revisions"}],"predecessor-version":[{"id":92189,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/92179\/revisions\/92189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/75334"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=92179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=92179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=92179"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=92179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}