Pakistan President Approves Tax-Heavy 2024-25 Budget

Jun 30

Budget 2024-25, Finance, Pakistan, Top stories

Pakistan President Approves Tax-Heavy 2024-25 Budget

Islamabad, June 30, 2024 – Pakistan President Asif Ali Zardari on Sunday approved the heavily tax-laden Budget 2024-25, set to come into effect from July 1. The budget, amounting to Rs18.877 trillion, aims to stabilize the economy and secure a new bailout from the International Monetary Fund (IMF).

by Mrs. Anjum Shahnawaz

Government Introduces Separate Tax Regime for Property Sale

Jun 29

Budget 2024-25, Taxation

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.

by Shahnawaz Akhter

PVMA Threatens Industry Closure Over Tax Inequity

Jun 29

Trade & Industry

PVMA Threatens Industry Closure Over Tax Inequity

KARACHI: The Pakistan Vanaspati Manufacturers Association (PVMA) has threatened a nationwide closure of factories if the federal government does not withdraw tax concessions granted to ghee factories in the Federally Administered Tribal Areas (FATA) and the Provincially Administered Tribal Areas (PATA).

by Faisal Shahnawaz

Pakistan Puts More Tax Burden on 2024-25 Budget Approval

Jun 29

Budget 2024-25, Pakistan, Taxation, Top stories

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.

by Mrs. Anjum Shahnawaz

Pakistan Maintains Normal Tax Regime for Exporters

Jun 28

Budget 2024-25, Top stories

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.

by Shahnawaz Akhter

Jun 28

Budget 2024-25, Pakistan, Top stories

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).

by Shahnawaz Akhter

Exporters Tax Regime in Limbo Amid IMF Negotiations

Jun 27

Budget 2024-25, Taxation, Top stories

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.

by Shahnawaz Akhter

FBR Committee Proposes 30% Tax on Non-Filers’ Bank Deposits

Jun 25

Budget 2024-25, Top stories

FBR Committee Proposes 30% Tax on Non-Filers’ Bank Deposits

Islamabad: The high-powered budget anomaly committee constituted by the Federal Board of Revenue (FBR) has proposed a 30 percent tax on bank deposits of non-filers.

by Mrs. Anjum Shahnawaz

New Property Tax Rates: FBR Explains Benefits of Filing on Time

Jun 24

Budget 2024-25, Taxation, Top stories

New Property Tax Rates: FBR Explains Benefits of Filing on Time

Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the new property tax rates introduced through the Finance Bill 2024.

by Shahnawaz Akhter

Senate Estimates Budget Measures to Fuel Inflation by 10%

Jun 23

Budget 2024-25, Top stories

Senate Estimates Budget Measures to Fuel Inflation by 10%

ISLAMABAD, June 22, 2024 – The Senate Standing Committee on Finance has projected that the 2024-25 budget measures will lead to a 10 percent inflation increase next year. This estimation was presented by the committee chairman, Senator Saleem Mandviwalla, during a Saturday meeting that sharply criticized new tax proposals on essential goods. In his remarks, […]

by Mrs. Anjum Shahnawaz