Check Tax Burden on Your Salary Income from July 1
Salary persons should calculate their income for the purpose of tax chargeability under changes made through Finance Act, 2024 and effective from July 1, 2024.
Salary persons should calculate their income for the purpose of tax chargeability under changes made through Finance Act, 2024 and effective from July 1, 2024.
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.
As the federal government expedites the finalization of the 2024-25 budget, significant changes are on the horizon for the public sector workforce. According to reports, the Finance Minister has proposed a substantial 15-20% salary increase, reflecting a broader strategy to enhance compensation across various grades.
(PkRevenue.com) – Salaried employees in Pakistan may see a salary increase of up to 15 percent in the forthcoming 2024-25 budget, according to official sources. The government is actively considering various proposals to enhance the salaries of public sector employees in the upcoming fiscal year.
Peshawar, May 24, 2024 – The Khyber Pakhtunkhwa government on Friday announced a significant 10% hike in the salaries of public servants.
Islamabad, October 25, 2023 – The Federal Board of Revenue (FBR) has officially declared that it has no intentions to revise the current tax exemption threshold for salaried individuals, putting an end to speculation surrounding potential changes in tax policy.
Karachi, August 22, 2023 – ABHI Pakistan, the nation’s pioneering embedded finance platform, is revolutionizing financial empowerment in Pakistan with a suite of innovative financial solutions. These include Earned Wage Access, Invoice Factoring, and Payroll Solutions.
Islamabad, August 21, 2023 – The Federal Board of Revenue (FBR) in Pakistan has recently released an updated structure of taxation on salary income, with the new regulations coming into effect on July 1, 2023.
Islamabad, August 3, 2023 – In a significant move, the federal government has extended the 35 percent increase in salary, previously announced for all federal government employees in the budget 2023-24, to employees of autonomous and semi-autonomous bodies as well as corporations.
Islamabad, July 6, 2023 – In a major development, the President of Pakistan has approved a substantial salary increase of up to 35 percent for government employees. The finance ministry issued a notification outlining the details of this salary raise.