ISLAMABAD: Federal Board of Revenue (FBR) has issued clarification regarding a news item published on 10-06-2022 by some sections of media (not The Financial Daily), quoting the economic survey of Pakistan for the year 2021-22 which was launched on 09-06-2022.
The said news item has reported tax expenditure on account of Sales Tax was as Rs. 1,014.5 billion, with an increase of 75.4% over last year.
The overall Tax expenditure was reported as Rs.1,757 billion showing an increase of 33.7% over the previous year.
FBR while clarifying its position has clearly stated that after the final revision of “Tax Expenditure Report”, the reconciled sales tax expenditure is reported as Rs.739.8 billion showing an increase of 27.9% over last year.
The overall Tax expenditure after this revision is Rs.1,482.3 billion showing an increase of 12.8% over the previous year.