Govt to Slap 18% Sales Tax on Tractors, Pesticides and Fertilizers

The government has decided to impose 18 percent sales tax on agriculture related items including tractors, pesticides and fertilizers in budget (2024-25). According to the details, the government has given go ahead to the Federal Board of Revenue (FBR) to incorporate amendments in the Finance Bill 2024. The government had to meet challenging target of Rs. 12,900 billion for 2024-25 for which we have to take tough revenue measures, sources added. It is pertinent to mention here that the agriculture sector in Pakistan witnessed robust growth in FY2024, with an overall increase of 6.25 percent.