Senator Muhammad Aurangzeb, the Minister for Finance and Revenue, unfolded the details of the Rs 18.877 trillion federal budget for the fiscal year 2024-25 in a session of the National Assembly on Wednesday.
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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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Pakistan Increases Salaries by 25% in 2024-25 Budget
In a move aimed at alleviating financial burdens on government employees amidst rising inflation, the government of Pakistan announced a significant increase in salaries as part of the fiscal year 2024-25 budget presented on Wednesday.
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Pakistan Grants Rs 1.4 Trillion Tax Exemption on Petroleum Sales
PkRevenue.com — In a significant fiscal move aimed at alleviating inflationary pressures on its citizens, Pakistan has granted a sales tax exemption totaling Rs 1.4 trillion on petroleum products for the fiscal year 2023-24, as revealed by official documents on Wednesday.
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Pakistan Set to Unveil Rs 18 Trillion Outlay for 2024-25 Budget
PkRevenue.com — Pakistan is poised to present its federal budget for the fiscal year 2024-25 today, with an estimated outlay exceeding Rs 18 trillion.
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Red Sea Disruption Threatens Pakistan’s Economy
PkRevenue.com — The recent disruption in the Red Sea, a crucial maritime trade route, poses severe consequences for Pakistan’s trade and overall economy, as highlighted in the Economic Survey of Pakistan 2023-24.
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Tax to GDP Ratio Projected at 8.9% for FY24: Economic Survey
PkRevenue.com — The Economic Survey of Pakistan 2023-24 has projected a tax to GDP ratio of 8.9 percent for the upcoming fiscal year, reflecting a modest increase from the 8.5 percent recorded in FY 2023. This projection is based on the Federal Board of Revenue’s (FBR) collection performance during the outgoing fiscal year.
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Pakistan Tax Exemptions Surge 73% to Rs 3.88 Trillion in FY24
In a notable fiscal shift, the cost of tax exemptions and concessions in Pakistan surged by 73% to reach Rs 3.88 trillion during the fiscal year 2023-24, as highlighted in the Pakistan Economic Survey 2023-24 released on Tuesday.
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Economic Survey 2023-24 Reveals Pakistan Misses Most Targets
PkRevenue.com – Pakistan on Tuesday launched the Economic Survey 2023-24, revealing that the country missed most of its economic targets for the outgoing fiscal year.
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Pakistan Car Sales Hit 17-Month High in May 2024
PkRevenue.com – Pakistan automotive sector has witnessed a significant surge as car sales reached a 17-month high in May 2024, according to analysts at Topline Securities.
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Citizens Rush to File Tax Returns as ATL Grows to 4.54 Million
PkRevenue.com – The number of active taxpayers in Pakistan has surged to 4.54 million for the tax year 2023, driven by concerns over stringent measures by the Federal Board of Revenue (FBR). This significant increase is reflected in the FBR’s weekly Active Taxpayers List (ATL), which accounts for returns filed up to June 9, 2024.
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