Ishaq Dar, the federal minister of finance and revenue, revealed the Finance (Supplementary) Bill, 2023, on Wednesday. Marriage halls are subject to a 10% variable withholding tax.
He made a number of amendments, including the inclusion of fiscal measures totaling Rs 170 billion (or roughly $640 million) through additional taxes, as agreed upon with the International Monetary Fund (IMF).
The finance minister began his address by criticising the tenure of the Pakistan Tehreek-e-Insaf (PTI) government, arguing that a national committee be formed to investigate the failures that have cost the country’s economy.
Dar said the tax measures will help reduce the budget deficit, adding that cabinet members will also adopt an austerity strategy to help the country at this time of economic distress.