Govt Takes Back Proposal to Impose Sales Tax on Stationery Items

Finance Minister Senator Muhammad Aurangzeb Tuesday announced that the government is taking back the proposal in the FY25 budget to increase sales tax rates on stationery items. The minister announced this while addressing the National Assembly to conclude the federal budget. It is pertinent to mention here that during its deliberations on the Finance Bill 2024, the Senate Standing Committee on Finance recommended a reduction in the proposed increase in sales tax rates on multiple items, including stationery items such as colored pencils, pencils, and geometry sets. The FBR chairman had also hinted at taking back the proposal to impose sales tax on stationery items after the Senate Standing Committee on Finance asked him to withdraw the proposal.