ISLAMABAD: The cost of income tax exemptions available to the Supreme Court of Pakistan, the Diamer-Bhasha and Mohmand Dams amounted to Rs2,135 million during 2019-20.
According to the Federal Board of Revenue (FBR) data, the total cost of income tax exemptions and concessions granted to state apparatus amounted to Rs83,644 million during 2019-20.
The FBR report revealed that the estimated cost of exemption to State Bank of Pakistan and State Bank of Pakistan Banking Services Corporation amounted to Rs50,201 million during the period under review.
The income tax exemption available to the federal government, provincial government and local government stood at Rs18,934 million during this period.
The estimated cost of exemption available to the Pakistan Water and Power Development Authority stood at Rs8,315 million. The cost of exemption granted to the income representing a subsidy granted by the federal government amounted to Rs2,729 million.
The tax concession/exemption available to the National Rural Support Programme stood at Rs510 million during this period. Pakistan Poverty Alleviation Fund availed tax benefits of Rs312 million.
The perquisites, benefits and allowances received by judges of Supreme Court of Pakistan and judges of High Court have an estimated revenue impact of Rs283 million.
The cost of exemption available to the Pakistan Engineering Council was Rs184 million.
House rent allowances to judges of the Supreme Court of Pakistan and of High Courts have revenue impact of Rs32 million.
The tax exemption available to the Pakistan Agricultural Research Council, Islamabad, has revenue impact of Rs4 million.
Pakistan Centre for Philanthropy has revenue impact of one million and National Disaster Risk Management Fund has zero revenue impact.
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