2024-25 Pakistan budget may phase out tax exemptions per IMF demands, introducing taxes on imported tractors, and increasing duties on used car imports and wheat.
Pakistan's budget 2024-25 may include phasing out tax exemptions, in line with International Monetary Fund (IMF) demands, to increase revenue and streamline taxation policies. Proposals include imposing taxes on imported tractors, implementing income tax withholding for commercial importers, and ending tax exemptions on sectors and industries. The government is also considering increasing duties on imports of up to 1,300cc used cars and wheat to discourage such imports.
May 12, 2024
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