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.
(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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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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Pakistan 2024-25 Tax Calculator for Salary, Business Individuals
In a significant update for the upcoming fiscal year, the Finance Bill 2024 has unveiled revised tax brackets and rates, impacting both salaried individuals and business entities across the country.
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Incomplete Tax Return to Attract Fine and Imprisonment: FBR
The Federal Board of Revenue (FBR) has announced that filing an incomplete income tax return could lead to severe penalties, including a fine and up to one year of imprisonment.
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FBR to Collect Tax on Value of Motor Vehicles Starting July 1, 2024
Starting July 1, 2024, the Federal Board of Revenue (FBR) will shift its method of collecting advance income tax on motor vehicles.
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PBC Questions Massive Salary Increase for Govt Employees
In a critical response to the newly announced budget for the fiscal year 2024-25, the Pakistan Business Council (PBC) has raised significant concerns over the substantial salary increments granted to government employees.
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