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.
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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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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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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 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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Finance Bill 2024 Redefines Sales Tax Fraud
The federal government, on Wednesday, unveiled the budget for 2024-25, presenting a comprehensive redefinition of sales tax fraud through the Finance Bill, 2024.
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New Tax Slabs for Business Individuals: Finance Bill 2024
Islamabad, June 12, 2024 – The government on Wednesday presented the budget for the fiscal year 2024-25, which includes revised tax slabs for business individuals and Associations of Persons (AOPs).
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