PkRevenue.com – Pakistan is preparing to further increase the sales tax rate in the upcoming 2024-25 budget to generate significant revenue for the next fiscal year.
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SECP Proposes Tax Relief for Share Investors in 2024-25 Budget
PkRevenue.com – In a bid to stimulate the stock market and promote investment, the Securities and Exchange Commission of Pakistan (SECP) has put forward a series of tax relief proposals for the 2024-25 budget.
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Steel Industry Representatives Meet Finance Minister
PkRevenue.com – On Thursday, representatives from the steel industry met with Finance Minister Muhammad Aurangzeb to discuss proposals for the upcoming 2024-25 budget.
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Health Experts Recommend 40% Increase in Tobacco Tax
Pkrevenue.com – Health experts have urged the Federal Board of Revenue (FBR) to implement a 40% increase in tobacco taxes in the budget for the fiscal year 2024-25. This proposal aims to reduce tobacco consumption, enhance government revenue, and address the significant health costs associated with smoking.
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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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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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