Rs 343 bn mini-budget : Computers, cell phones, bakery items go dearer

ISLAMABAD: In compliance with the IMF’s terms, the government on Thursday scrapped tax measures to raise Rs 343 billion, which is the International Monetary Fund’s (IMF) فن 6 billion external fund facility. (EFF) as a prerequisite for resumption.

These measures include eliminating the General Sales Tax (GST) exemption on more than 150 items, increasing the advance holding tax on cellular service from 10 to 15 percent, and doubling the advance tax on vehicle registration.

The government has imposed an advance tax of Rs 1 million per installment on foreign-produced TV serials, Rs 3 million on foreign-produced TV dramas and Rs 5 million on advertisements of foreign actors.

According to details shared by the FBR with the federal cabinet, the IMF demanded tax measures of Rs 700 billion, including 17% GST across the board, but the FBR did not. Assume 343 billion rupees.