On 6 February 2023, Pakistan’s Federal Board of Revenue has issued a notice on income tax proposals for Budget 2023-24. The notice includes the following tax proposals:
- Taxation of real Income on progressive basis;
- Broadening of the tax base for wider participation in revenue generation efforts;
- Phasing out of tax concessions and exemptions;
- Removal of tax distortions and anomalies;
- Facilitation of taxpayers and ease of doing business;
- Promoting equity in taxation by introducing measures where incidence of tax is higher on affluent classes.
