Byline: SOHAIL SARFRAZ
The Federal Board of Revenue is working on the possibility to impose surcharge as one-time levy to generate additional funds for early recovery and rehabilitation of people affected by floods, it is learnt here on Wednesday. The FBR has started an exercise to analyse the revenue impact of different rates of surcharge on various sectors.
The preliminary analysis is being carried out to ascertain the revenue impact of surcharge on the direct taxes side. If the government imposes any kind of surcharge, it may not be applicable on indirect taxes as the burden of indirect taxes would be passed on to the consumers.
Any proposal to impose …