Pakistan Revenue
Pakistan Budget 2020–2021 outlines key fiscal measures, tax reforms, and development priorities aimed at economic recovery, growth, and stability.
Karachi, December 3, 2025 – The Sindh government has announced the official schedule for presenting the provincial budget for the fiscal year 2026-27, outlining key deadlines for departments and ministries ahead of the budget session.
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ISLAMABAD: The finance ministry on Wednesday issued strategy for release of funds for development budget during fiscal year 2020/2021. The undersigned is directed to refer to the subject mentioned above and to state that keeping in view the Public Finance Management Act (PFM) Act, 2019, the following strategy for release of funds relating to Development […]
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ISLAMABAD: The Senate of Pakistan has recommended the government to abolish withholding tax on cash transactions from banks. In its key tax recommendations for finalizing budget 2020/2021, the Senate recommended that the government should abolish all kinds of withholding tax chargeable on cash transactions from banks.
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ISLAMABAD: The Senate of Pakistan has recommended increase in salary of government employees by at least 10 percent for fiscal year starting July 01, 2020. As per the general consensus recommendations of the upper house after the debate on budget 2020/2021, it is recommended that salary of government employees should be enhanced at least 10 […]
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ISLAMABAD: The Senate of Pakistan has recommended a significant policy shift, advocating for tobacco to be treated as a crop and exempted from duties and taxes. This recommendation was made in the context of the Finance Bill 2020, reflecting the upper house’s stance on the agricultural status of tobacco.
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ISLAMABAD: Hammad Azhar, Minister for Industries and Production, has said that the tax collection target of Rs4.96 trillion assigned to Federal Board of Revenue (FBR) during next fiscal year is achievable.
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In a decisive move to bolster transparency in financial transactions, the Federal Board of Revenue (FBR) is set to require all banks to provide detailed information on individuals receiving profit on debt, effective from July 1, 2020.
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KARACHI: The Finance Bill 2020 has proposed major changes related to tax deduction in order to provide relief to business community. Under the proposed amendments the threshold amount has been increased up to Rs25,000 for tax deduction in case salary is paid. According to interpretation of the Finance Bill 2020 by BDO Pakistan, the Finance […]
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The Pakistani government has announced a significant tax relief measure, granting withholding tax exemption on the transfer of foreign remittances to Pak Rupee (PKR) accounts. However, tax experts have raised concerns about the practical implementation of this exemption, particularly regarding the bifurcation of transactions for banks.
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KARACHI: Business community has criticized the government for eliminating condition of conducting audit once in three-year period. Overseas Investors Chamber of Commerce and Industry (OICCI) highlighted anomalies in the Finance Bill 2020, sent to the Federal Board of Revenue (FBR) and said that omission of the condition would burden the taxpayers and would give sweeping […]
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