June 6, 2015

Pakistan budget 15-16 focuses on taxation

*Rs 253 billion new taxes imposed in budget for 2015-16*Rs 120 billion exemptions given under different SROs in customs, sales and income tax withdrawn

 

Presenting the budget, Finance Minister Ishaq said total resources have been estimated at Rs 4.168 trillion and the government has to bear the deficit of Rs 1.328 trillion despite imposing new taxes of Rs 253 billion during the next fiscal year. He said an estimate for the current expenditures during the next fiscal year is Rs 3.128 trillion while the revised estimates for the outgoing fiscal year are Rs 3.151 trillion. The deficit is likely to stay at 4.3% of the GDP for the coming financial year, down from 5% in 2014-15.Read More »Pakistan budget 15-16 focuses on taxation