Islamabad: (Right Now News) The federal budget has announced new tax measures to generate an additional revenue of 1 trillion rupees. A proposal to impose federal excise duty on petroleum products is also included.

The government has decided on a fixed sales tax system and digital integration for the steel sector. Strict penalties are proposed for taxpayers who fail to install Point of Sale (POS) systems.

According to FBR sources, the Prime Minister held a meeting for better coordination between federal and provincial governments. A joint strategy to prevent illegal trade was discussed.

The government’s aim is to expand the tax net and prevent sales tax evasion. The proposal to not extend sales and income tax exemptions expiring on June 30, 2026, is under consideration for the next budget.

It is noteworthy that the government’s tax reform agenda prioritizes a faceless FBR. Without digital integration, this system cannot succeed.