ISLAMABAD: President Arif Alvi has given assent to the Finance Act, 2022, to enforce taxation and relief measures and tariff rationalization from July 1, 2022.

The government has enforced the Finance Act, 2022 to implement taxation measures of around Rs790 billion from July 1, 2022.

In budget 2022-23, the government has taken taxation measures of Rs440 billion and enforcement measures of Rs200 billion. Through amended bill 2022, the additional taxation measures of around Rs350 billion were taken.

Under the Act 2022, the sales tax measures would be applicable from the next day of the assent given by the president.

Copyright Business Recorder, 2022