Karachi, June 30, 2024 – In a significant policy shift, the Federal Board of Revenue (FBR) will now permit non-filers of income tax returns to travel abroad for performing Hajj and Umrah.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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FED Rates on Property Transfer Applicable from July 1, 2024
Karachi, June 29, 2024 – The Finance Act, 2024 has set new rates for Federal Excise Duty (FED) on property transfers, effective from July 1, 2024. The Federal Board of Revenue (FBR) has detailed the application of these rates, which vary based on the taxpayer status of the buyer.
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Pakistan Approves Petroleum Levy Increase to Rs 70 per Liter
Karachi, June 29, 2024 – Pakistan has approved an increase in the petroleum levy to Rs 70 per liter on the price of petroleum products for the fiscal year 2024-25.
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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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Pakistan Maintains Normal Tax Regime for Exporters
Islamabad, June 28, 2024 – National Assembly of Pakistan on Friday passed the 2024-25 budget, maintaining a normal tax regime for exporters despite significant criticism.
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National Assembly Passes 2024-25 Budget
Islamabad, June 28, 2024 – The National Assembly on Friday approved the budget for fiscal year 2024-25, presented by the ruling Pakistan Muslim League-Nawaz (PML-N).
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Rupee Ends FY24 at PKR 278.34 Against Dollar
Karachi, June 28, 2024 – The Pakistani Rupee on the last trading day of fiscal year 2023-24 on Friday appreciated slightly, ending at PKR 278.34 against the dollar in the interbank foreign exchange market.
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Pakistan Records $208 Million Fall in Weekly Forex Reserves
Karachi, June 27, 2024 – Pakistan has recorded a fall of $208 million in foreign exchange reserves for the week ending June 21, 2024, according to the State Bank of Pakistan (SBP).
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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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