FBR

De facto finance minister advises provinces not to make budgets on basis of Rs4.963 trillion target

Around 53% of additional spending done on account of Covid-19 outbreak

Move aimed at achieving Rs4.96 trillion 'aspirational' target

The budget clearly makes an effort to keep the IMF programme afloat by setting a high revenue target

Highest amount of tax concessions given in FY20 to affluent people

Also proposes to limit expense allowances for industrialists

Association says discussion will help enhance tax receipts, protect industry

Plans to issue up to Rs50m in next phase to help businesses cope with virus

Proposal aimed at unearthing hidden assets of citizens to enhance revenue

Considers bringing foreign companies on par with local firms