ISLAMABAD: Pakistan’s fiscal deficit in FY21 has widened by 7.1% compared to 8.1% in FY20 whereas Federal Board of Revenue (FBR) taxes rose 19.2% to Rs 4.764 trillion compared to Rs 3.998 trillion.
According to details, direct taxes rose 13.6% to Rs 1.732 trillion while the indirect taxes rose 22.6% to Rs 3.032 trillion. Customs duties rose 22.2% to Rs 765 billion whereas sales tax rose 24.6% to Rs 1.990 trillion.
On the other hand, markup payments have risen 5% to Rs 2.750 trillion while defense expenses rose 8.5% to Rs 1.316 trillion.
Tax to GDP ratio in FY21 was 11.1% compared to 11.4% in FY20. Non-tax to GDP ratio was 3.4% in FY21 compared to 3.7% in FY20. Total expenditure to GDP was 21.6% in FY21 in comparison with 23.1%in FY20.
