In a decisive move, senators have rejected the proposed increase in tax rates for the salaried class in the 2024-25 budget, following a comprehensive review of contributions from various sectors.
(more…)Tag: Finance Bill 2024
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FBR Forms Committees to Resolve Finance Bill 2024 Anomalies
Islamabad, June 15, 2024 – The Federal Board of Revenue (FBR) announced the formation of two high-powered committees on Saturday, tasked with identifying and resolving anomalies in the Finance Bill 2024.
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Finance Bill 2024 Unveils Changes to Capital Gains Tax Regime
The recently introduced Finance Bill 2024 brings significant alterations to Pakistan’s capital gains tax regime, applicable from July 1, 2024. Let’s delve into the key updates for both individuals and businesses.
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Budget 2024-25 Focuses on Generating High Tax Revenue: KPMG
Karachi, June 15, 2024 – The budget for the fiscal year 2024-25 has drawn criticism from experts for its emphasis on generating higher tax revenue rather than broadening the tax base.
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Finance Bill 2024 Unveils Enhanced Tax Rates for Phone Users
Islamabad, June 15, 2024 – The Finance Bill 2024 has introduced higher withholding tax rates for users of telephone and internet services, effective from July 1, 2024. This change aims to enhance tax compliance and revenue collection by the Federal Board of Revenue (FBR).
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Finance Bill 2024 Resolves Super Tax Application Dispute
Karachi, June 15, 2024 – The Finance Bill 2024 has addressed a longstanding dispute regarding the application of super tax, providing much-needed clarity for businesses, according to tax experts.
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Check Tax Hike for Your Salary Income in Budget 2024-25
Salaried individuals should brace themselves for significant changes in tax rates as outlined in the Budget 2024-25. The new tax rates for various salary income slabs, set to be effective from July 1, 2024, pending legislative approval, are designed to address economic challenges and augment government revenue.
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New Tax Regime for Exporters Unveiled in Pakistan
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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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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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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