As per details, this development came after a meeting between the FBR and the marriage hall association, where both sides agreed on the new tax.
The 10% withholding tax will be collected in addition to the rental charges, and the tax amount will not be borne by the marriage hall owners.
According to the president of the marriage hall association, this move aims to increase revenue collection and streamline tax payments in the marriage hall industry.
The implementation of this tax is expected to contribute to the government’s efforts to increase revenue collection and improve tax compliance.
The development came after the Federal Board of Revenue failed to reach its tax target collection for November 2024.
The International Monetary Fund (IMF) could demand a mini-budget from Pakistan if the tax collection authority fails to attain its target of December, according to sources.
Despite heavy taxes imposed, the FBR failed to reach tax targets with an overall 343 billion rupees shortfall in tax collection, sources said.
The taxation authority has collected Rs 852 billion during November 2024 against the monthly target of Rs1,003 billion, leaving a gap of Rs151 billion.
Finance Minister asserts strict measures to increase tax revenue
Sources said that the tax collection shortfall of the last four months was Rs 192 billion.
The FBR has collected Rs4,292 billion during the first five months of 2024-25 against the assigned target of Rs 4,639 billion set for November of the current fiscal year, reflecting a shortfall of Rs344 billion.
The taxation authority collected Rs851 billion in November 2024 against Rs736 billion collection in November 2023, an increase of Rs 115 billion.
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