LAHORE: Federal Government has prepared a plan to collect additional tax of RS 254 billion. According to documents, the government has assured IMF to raise the petroleum levy to RS 60 per liter. The average rate of levy will remain RS 55 per liter during the financial year 2023-24. Additional RS 79 billion will be received in the petroleum levy.

On the other hand, collection of additional RS 30 billion from business income and salaried class is also part of the plan. 5 percent tax be collected by abolishing the tax exemption on fertilizer.

Additional revenue of RS 34 billion will be obtained in the form of tax on fertilizer.

According to documents, unregistered business will get RS 23 billion from additional GST on supplies.

RS 15 billion revenue will be obtained by increasing the advanced tax on builders and developers under the plan.

RS 19 billion will be obtained by imposing 1 percent tax on property value of non-filers.

Tax revenue of RS 46 billion will accrue by this step.

According to documents, the property tax on sale of immoveable property has been increased from 2 to 3 percent.

RS 8 billion will be obtained by raising FED to 20 percent on sugary drinks.