Karachi, June 14, 2024 – The Sindh government announced the provincial budget for 2024-25 on Friday, revealing an increase in the sales tax rate from 13% to 15%.
(more…)Author: Shahnawaz Akhter
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FBR to Open Tax Collection Window on June 22 and 23
Islamabad – The Federal Board of Revenue (FBR) on Friday announced that it will observe normal working days on Saturday, June 22, 2024, and Sunday, June 23, 2024.
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Sindh Employees Get 30% Salary Raise in 2024-25 Budget
Karachi, June 14, 2024 – The Sindh government announced substantial salary increases for its employees in the 2024-25 provincial budget. Chief Minister Syed Murad Ali Shah, presenting the budget on Friday, revealed a 30 percent salary hike for employees in BPS-1 to BPS-6, 25 percent for those in BPS-7 to BPS-16, and 22 percent for employees in BPS-17 and above. Additionally, a 15 percent increase in pensions for retired employees is included.
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Sindh Presents Rs 3.056 Trillion 2024-25 Budget
Karachi, June 14, 2024 – Sindh Chief Minister Syed Murad Ali Shah presented the province’s budget for the fiscal year 2024-25, amounting to Rs 3.056.27 trillion.
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Check Tax Hike for Your Salary Income in Budget 2024-25
Salaried individuals should brace themselves for significant changes in tax rates as outlined in the Budget 2024-25. The new tax rates for various salary income slabs, set to be effective from July 1, 2024, pending legislative approval, are designed to address economic challenges and augment government revenue.
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Budget 2024-25 Disappoints UNISAME
The Union of Small and Medium Enterprises (UNISAME) has expressed profound disappointment and disillusionment with the proposed 2024-25 budget, urging Finance Minister Muhammad Aurangzeb to reconsider critical aspects for the sake of the underprivileged majority sector.
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New Tax Regime for Exporters Unveiled in Pakistan
Karachi, June 14, 2024: A significant change is on the horizon for Pakistani exporters as the Finance Bill 2024 introduces a new tax regime. Effective July 1, 2024, this bill dismantles the long-standing final tax system for exports, ushering in a new era for how export-related taxes are handled.
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Highlights of Key Tax Amendments through Finance Bill 2024
The Chartered Accountants at A. F. Ferguson & Co. have presented highlights of key tax amendments introduced through the Finance Bill, 2024.
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Pakistan Tax Bar Denounces 2024-25 Budget
Karachi, June 13, 2024 – The Pakistan Tax Bar Association (PTBA) rebuked the newly announced 2024-25 budget, branding it as detrimental to the nation’s populace and economic growth.
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Economy Unsustainable at Single-Digit Tax Ratio: Aurangzeb
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, reiterated the pressing need for digitization and broadening the tax base, emphasizing that a tax to GDP ratio below 10 percent is unsustainable for managing Pakistan’s economy.
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