Pakistan Revenue
ISLAMABAD: The federal government on Friday announced budget for fiscal year 2021/2022 and notified relief and revenue measures in income tax. REVENUE MEASURES • Special regime for export of services at par with export of goods to be taxed @ 1% under final tax regime. • Elimination of block taxation of property income and shift […]
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ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022 and allocated Rs900 billion for public sector development program (PSDP). Following are the highlights of allocations PSDP for various ministries and divisions for the fiscal year 2021-22 announced by the Federal Government here Friday: — Total outlay of the PSDP for the fiscal […]
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ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announce an increase of 10 percent in basic salary and pension of the government employees. While delivering the budget speech for the year 2021-22, Minister for Finance Shaukat Tarin announced that the increase in salaries and pensions of the federal government employees would be applicable […]
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ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022. Following is the budget at a glance: Total resources: Rs8,487 billion Total revenue (Federal Board of Revenue): Rs5,829 billion Non Tax Revenue: Rs2,080 billion Gross Revenue Receipts: Rs7,909 billion Less Provincial Share: Rs3,412 billion Net Revenue Receipts (a-b): Rs4,497 billion Non Bank Borrowing […]
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Despite the ongoing challenges posed by the third wave of the COVID-19 pandemic, the Pakistani government is gearing up to present its third budget for the fiscal year 2021-22 in the Parliament on June 11, Friday.
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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has recommended exemption of additional capital gain tax (CGT) on disposal of shares in case of foreign investors, who are not on the Active Taxpayers List (ATL). The SECP submitted tax proposals for budget 2021/2022 to the Federal Board of Revenue (FBR). The SECP submitted following […]
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KARACHI: The association of value added textile exporters on Wednesday demanded to reduce the withholding income tax by 50 percent in order to reduce burden on manufacturers and improve country’s foreign exchange earnings. In a joint press conference, the exporters demanded the government of restoring Zero Rating – No Payment No Refund System, continuation of […]
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ISLAMABAD: Securities and Exchange Commission (SECP) has submitted its tax proposals for budget 2021/2022 for documenting real estate sector and promotion of Real Estate Investment Trusts (REITs). The SECP submitted following suggestions for documenting real estate sector and promotion of REITs: (i) Reduce tax on dividend from REITs from 25 percent to 15 percent to […]
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KARACHI: The Association of Chartered Certified Accountants (ACCA) has suggested the government to impose income tax at 7 percent on landowners to increase the agriculture share in the GDP. The ACCA in its proposals for budget 2021/2022 stated that agriculture (recently growing at 2.77 percent) has the potential to reach up to 55 percent of […]
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ISLAMABAD: Finance Minister Shaukat Tarin on Monday said that the government is considering to introduce a new tax regime that is in accordance with the changing economic environment. The finance minister said this at a meeting with Managing Director / CEO Pakistan Stock Exchange Farrukh H. Khan to review proposals for Federal Budget 2021-2022. The […]
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