Islamabad, June 29, 2024 – The government has imposed a capital value tax (CVT) on farmhouses and residential houses within the territorial limits of Islamabad Capital Territory, as outlined in the Finance Act, 2024.
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Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.
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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.
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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.
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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.
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Aurangzeb Urges Inclusion of Retailers and Real Estate in Tax Net
Islamabad, June 28, 2024 – Finance Minister Mohammad Aurangzeb emphasized the necessity of broadening Pakistan’s tax base by incorporating retailers and the real estate sector into the tax net.
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SBP Issues Bank Timings for Tax Collection in FY24 Closing
Karachi, June 28, 2024 – The State Bank of Pakistan (SBP) announced on Friday the bank timings for the collection of duty and tax during the last three days of the fiscal year 2024-25.
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Exporters Tax Regime in Limbo Amid IMF Negotiations
Karachi, June 27, 2024 – The government of Pakistan remains undecided on the implementation of the new normal tax regime for exporters, set to begin on July 1, 2024, amidst considerable opposition from the sector, sources revealed on Thursday.
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RTO Hyderabad Clamps Down on Black And Brown Bakers
Hyderabad, June 27, 2024 – The Regional Tax Office (RTO) in Hyderabad has taken decisive action against a renowned bakery chain in the city, sealing two of its branches for non-compliance with integration requirements mandated by the Federal Board of Revenue (FBR).
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Pensioners Avail Rs 41.22 Billion as Tax Exemption Last Year: FBR
Karachi, June 26, 2024 – The Federal Board of Revenue (FBR) has announced that pensioners benefitted from Rs 41.22 billion in income tax exemptions during the last fiscal year.
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FBR Extends Tax Collection Hours Ahead of FY24 Deadline
Islamabad, June 25, 2024 – The Federal Board of Revenue (FBR) has announced special measures for tax collection during the final days of the fiscal year 2023-24, aiming to maximize revenue collection before the financial year concludes on June 30, 2024.
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