Islamabad (Commerce Desk): Pakistan granted tax exemptions worth approximately Rs11 trillion over the past five years, according to details presented in the National Assembly.
In a written response to a question by Member of the National Assembly Shaista Parvez, the Ministry of Finance provided details of tax exemptions granted during the last five fiscal years.
According to the ministry, tax exemptions amounted to Rs1,482.31 billion in fiscal year 2020-21 and Rs2,239 billion in 2021-22.
The ministry further stated that exemptions worth Rs2,540 billion were granted in 2022-23, Rs2,434 billion in 2023-24 and Rs2,352 billion in 2024-25.
Parliamentary Secretary Barrister Saad Wasim said the tax exemptions had been granted to improve the tax system.