President Arif Alvi has given assent to the Finance Bill 2022 to enforce taxation and relief measures and tariff rationalization from July 1, 2022.
The government has enforced the Finance Act 2022 to implement taxation measures of around Rs. 790 billion from July 1, 2022.
In the budget 2022-23, the government had taken taxation measures of Rs. 440 billion and enforcement measures of Rs. 200 billion. Through the Amended Bill 2022, the additional taxation measures were increased to around Rs. 350 billion.
Under the Finance Act 2022, the sales tax measures would be applicable from the next day of the assent given by the president.
Source: Radio Pakistan