ISLAMABAD:- The Federal Board of Revenue (FBR) has issued final version of Finance Bill 2022 to implement the tax measures passed by the parliament from today (1st July 2022)

To click on this link to get full access to final version of Finance Bill 2022

According to the final version of Finance Bill 2022, the government will collect Rs7.4 trillion tax revenue during the new fiscal year which has been started today.

The Finance Bill gives the legal cover to tax measures which was supposed to be taken from today.

The govt has introduced 7 slabs for income tax of salaried class for current fiscal year. The maximum tax ratio was set Rs 35 percent in the finance bill 22.

The Finance Bill shows that the government has introduces super tax on 13 big sectors including sugar, textiles, beverages, banks and others.

The FBR has also obtained powers to disconnect the gas and electricity connection in case the big retailer didnt registered in sales tax.

The FBR has also gotten powers to disconnect mobile sim, gas and electricity connections, if a person doesn’t in active taxpayer list despite he is liable to do.

The Finance Bill also shows that the government will give tax exemptions to different sectors and institutions during the current fiscal year.

Leave a Reply

Your email address will not be published.