Karachi, June 15, 2024 – The budget for the fiscal year 2024-25 has drawn criticism from experts for its emphasis on generating higher tax revenue rather than broadening the tax base.
(more…)Author: Shahnawaz Akhter
-
Finance Bill 2024 Unveils Enhanced Tax Rates for Phone Users
Islamabad, June 15, 2024 – The Finance Bill 2024 has introduced higher withholding tax rates for users of telephone and internet services, effective from July 1, 2024. This change aims to enhance tax compliance and revenue collection by the Federal Board of Revenue (FBR).
(more…) -
Finance Bill 2024 Resolves Super Tax Application Dispute
Karachi, June 15, 2024 – The Finance Bill 2024 has addressed a longstanding dispute regarding the application of super tax, providing much-needed clarity for businesses, according to tax experts.
(more…) -
SRB Extends Date for Sales Tax Return Filing to June 24, 2024
Karachi, June 15, 2024 – The Sindh Revenue Board (SRB) has announced an extension for the filing of sales tax returns for the month of May 2024.
(more…) -
FBR Extends Sales Tax Return Filing Deadline to June 24, 2024
Islamabad, June 14, 2024 – The Federal Board of Revenue (FBR) announced on Friday an extension for the deadline to file sales tax and federal excise returns.
(more…) -
Sindh Raises Sales Tax to 15% in Bold 2024-25 Budget Move
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…) -
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.
(more…) -
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.
(more…) -
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.
(more…) -
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.
(more…)