ICMAP Highlights Adverse Budget Impact on Exports

Jul 18

ICMAP Highlights Adverse Budget Impact on Exports

Karachi, July 18, 2024 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has identified an overall negative impact of the 2024-25 budget on the country’s exports. In its comprehensive review of the budget’s impact across various sectors, the ICMAP highlighted several key concerns that could significantly affect Pakistan’s export performance.

by Shahnawaz Akhter

NKATI Fears Mass SME Closure Over Budget Adversities

Jul 10

NKATI Fears Mass SME Closure Over Budget Adversities

Karachi, July 10, 2024 – The North Karachi Association of Trade & Industry (NKATI) voiced deep concerns on Wednesday over the potential mass closure of small and medium enterprises (SMEs), attributing the grim outlook to the adverse impacts of the 2024-25 budget.

by Shahnawaz Akhter

ABAD Decides to Move Court Against 2024-25 Budget

Jul 2

Budget 2024-25, Trade & Industry

ABAD Decides to Move Court Against 2024-25 Budget

Karachi, July 2, 2024 – The Association of Builders and Developers of Pakistan (ABAD) has announced its decision to challenge the harsh tax measures introduced in the 2024-25 budget in court.

by Shahnawaz Akhter

Pakistan President Approves Tax-Heavy 2024-25 Budget

Jun 30

Budget 2024-25, Finance, Pakistan, Top stories

Pakistan President Approves Tax-Heavy 2024-25 Budget

Islamabad, June 30, 2024 – Pakistan President Asif Ali Zardari on Sunday approved the heavily tax-laden Budget 2024-25, set to come into effect from July 1. The budget, amounting to Rs18.877 trillion, aims to stabilize the economy and secure a new bailout from the International Monetary Fund (IMF).

by Mrs. Anjum Shahnawaz

PM Shehbaz Praises Aurangzeb for Successful 2024-25 Budget

Jun 29

Budget 2024-25, National, Pakistan

PM Shehbaz Praises Aurangzeb for Successful 2024-25 Budget

Islamabad, June 29, 2024 – Prime Minister Shehbaz Sharif has commended Finance Minister Mohammad Aurangzeb for his successful efforts in securing the approval of the 2024-25 budget from the parliament.

by Mrs. Anjum Shahnawaz

Government Introduces Separate Tax Regime for Property Sale

Jun 29

Budget 2024-25, Taxation

Government Introduces Separate Tax Regime for Property Sale

Karachi, June 29, 2024 – The government of Pakistan has introduced a separate tax regime for income tax on property sales through the amended Finance Bill, 2024.

by Shahnawaz Akhter

Income Tax Surcharge at 10% Levied on Salaried Persons

Jun 29

Budget 2024-25, Taxation

Income Tax Surcharge at 10% Levied on Salaried Persons

Karachi, June 29, 2024 – In a surprising move aimed at generating more tax revenue, the government has imposed a 10 percent surcharge on income tax for individuals earning over Rs 10 million.

by Shahnawaz Akhter

Pakistan Puts More Tax Burden on 2024-25 Budget Approval

Jun 29

Budget 2024-25, Pakistan, Taxation, Top stories

Pakistan Puts More Tax Burden on 2024-25 Budget Approval

Pakistan has intensified its fiscal measures by increasing the tax burden on the nation as it seeks approval for the 2024-25 budget. The government has added further amendments to the earlier proposed Finance Bill 2024, imposing additional taxes to meet revenue targets.

by Mrs. Anjum Shahnawaz

Pakistan Maintains Normal Tax Regime for Exporters

Jun 28

Budget 2024-25, Top stories

Pakistan Maintains Normal Tax Regime for Exporters

Islamabad, June 28, 2024 – National Assembly of Pakistan on Friday passed the 2024-25 budget, maintaining a normal tax regime for exporters despite significant criticism.

by Shahnawaz Akhter

Jun 28

Budget 2024-25, Pakistan, Top stories

National Assembly Passes 2024-25 Budget

Islamabad, June 28, 2024 – The National Assembly on Friday approved the budget for fiscal year 2024-25, presented by the ruling Pakistan Muslim League-Nawaz (PML-N).

by Shahnawaz Akhter