Pakistan Revenue
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.
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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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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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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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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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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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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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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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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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The government has imposed a Federal Excise Duty (FED) on immovable properties through amendments introduced in the Finance Bill 2024.
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