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.
(more…)Category: Budget
This is parent category of budgets presented by Pakistan government. Here you will find year-wise federal and provincial budgets.
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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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Punjab Announces 25% Raise in Salaries in 2024-25 Budget
LAHORE, June 13, 2024 – The government of Punjab has announced a 25 percent increase in salaries for provincial government employees, effective from July 1, 2024.
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Punjab Allocates Rs 842 Billion for Development Budget 2024-25
LAHORE, June 13, 2024 – In a significant move to bolster the province’s development, Punjab has allocated Rs842 billion for its Annual Development Plan in the budget for the financial year 2024-25.
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Punjab Presents Rs 5.4 Trillion Tax-Free 2024-25 Budget
LAHORE, June 13, 2024 – Punjab Finance Minister Mujtaba Shuja-ur-Rehman presented the provincial budget for the financial year 2024-25 in the assembly session on Thursday.
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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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Finance Bill 2024: 5% FED Slapped on Immovable Properties
The government has imposed a Federal Excise Duty (FED) on immovable properties through amendments introduced in the Finance Bill 2024.
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Pakistan Withdraws Duty Exemption on Hybrid Vehicles Import
In a move aimed at bolstering the local automotive industry, Pakistan has announced the withdrawal of customs duty exemptions on the import of hybrid vehicles starting from the fiscal year 2024-25.
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Pakistan Jacks Up Minimum Wage to Monthly Rs 37,000
In a move aimed at providing relief to the lower income segment of society, Pakistan announced a significant increase in the minimum wage, raising it to Rs 37,000 per month.
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