PkRevenue.com – The Federal Board of Revenue (FBR) of Pakistan is gearing up to generate an additional Rs 205 billion through trade taxes in the fiscal year 2024-25. This target represents a 9 percent increase over the projected trade tax collection of Rs 1.09 trillion for the current fiscal year, 2023-24.
(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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FBR Proposes Tax on Govt. Securities Sold Before Maturity
(PkRevenue.com) – In a bid to curb revenue leakage and enhance the documentation of financial transactions, the Federal Board of Revenue (FBR) has proposed imposing a withholding tax on government securities sold before their maturity. This proposal is part of the FBR’s budget recommendations for the fiscal year 2024-25.
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Salaried Persons May Get 15% Raise in 2024-25 Budget
(PkRevenue.com) – Salaried employees in Pakistan may see a salary increase of up to 15 percent in the forthcoming 2024-25 budget, according to official sources. The government is actively considering various proposals to enhance the salaries of public sector employees in the upcoming fiscal year.
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FBR May Notify New Rules for Clearing Income Tax Refunds
(PkRevenue.com) – The Federal Board of Revenue (FBR) is on the verge of notifying new rules to streamline the clearance of outstanding income tax refunds through electronic means.
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Government Assures KCCI of Considering Budget Proposals
(PkRevenue.com) – The federal government assured the Karachi Chamber of Commerce and Industry (KCCI) on Monday that it would seriously consider their proposals for the 2024-25 budget.
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Pakistan Considers Pension Tax in 2024-25 Budget
Karachi (PkRevenue.com) – In a strategic move to bolster its revenue, Pakistan is poised to introduce a pension tax in the upcoming 2024-25 budget.
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FBR Proposes Suspending ST Registration for Flying Invoices
(PKRevenue.com) – The Federal Board of Revenue (FBR) has proposed a significant measure to combat tax evasion by suggesting the suspension of sales tax (ST) registration for individuals and entities issuing flying invoices.
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Realtors Oppose Any New Property Tax in 2024-25 Budget
Realtors have staunchly opposed any proposed tax hikes on property transactions in the forthcoming 2024-25 budget. The government has hinted at the possibility of imposing additional taxes on the real estate sector as part of its commitments to the International Monetary Fund (IMF), prompting significant backlash from industry stakeholders.
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Withholding Tax on Bank Cash Withdrawals May Rise to 0.9%
Karachi, May 26, 2024 – Pakistan is likely to increase the withholding tax rate on bank cash withdrawals from 0.6 percent to 0.9 percent. This proposed amendment is expected to be a key component of the Federal Board of Revenue (FBR)’s forthcoming budget for 2024-25.
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Pakistan Likely to Raise Petroleum Levy to Rs 100 per Liter
Islamabad, May 26, 2024 – Pakistan is poised to increase the petroleum levy to Rs 100 per liter, a significant hike from the current Rs 60 per liter in the budget 2024-25.
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