Sources close to the development revealed that Prime Minister Shehbaz Sharif has tasked the economic team to revise the current income tax rate on salaried classes earning up to Rs 100,000 per month. In the recent budget, the government had increased the income tax rate to 2.5 percent on monthly salaries up to Rs 100,000. […]
Karachi Urdu Bazaar chairman exclusively talking that program Bakhabar Savera said that the nature of taxes is confusing and unclear. He highlighted that, globally, the education sector and related fields are usually given concessions, but the opposite seems to be happening here. Yousuf noted that the abundance of taxes is driving up the prices of […]
The Tajir Dost app was launched to tax retailers in Pakistan. Through the app, the government is hoping to bring 3.5 million retailers into the tax net. FBR spokesperson, Bakhtiar Muhammad in his exclusive talk said 53,426 traders have themselves registered in the Tajir Dost tax scheme so far. According to the breakup, 7,312 traders […]
During a visit to FBR headquarters, Governor Kundi met with Chairman Malik Amjad Zubair Tiwana and discussed various tax-related matters and issues faced by the people of the province. The Chairman assured the Governor that all possible measures would be taken to resolve the issues faced by taxpayers in KP. He also apprised about the […]
Previously limited to six major cities, the scheme now covers Abbottabad, Attock, Bahawalnagar, Bahawalpur, Chakwal, Dera Ismail Khan, Faisalabad, Ghotki, Gujarat, Gwadar, Hafizabad, Haripur, Hyderabad, Islamabad, Jhang, Jhelum, Karachi, Kasur, Khushab, Lahore, Larkana, Lasbela, Lodhran, Mandi Bahauddin, Mansehra, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot, Sukkur, and […]
According to the spokesperson, the development came in the wake of the newly imposed Federal Excise Duty (FED) of Rs 15 per kilogram of sugar. The spokesperson said that the corporation has sought clarification from the Federal Board of Revenue (FBR) on the new tax. He said that the corporation has sufficient stock of sugar […]
The government has increased the withholding tax to 2.5 percent for non-filers under Section 236H of the Finance Act 2024 which has made the cement business unsustainable given the current market conditions besides the new turnover taxes imposed on dealers and retailers. All Pakistan Cement Dealers Chairman Sajid Chaudhry highlighted concerns that taxes and PoS […]
The new program, which needs to be validated by the Fund’s Executive Board, should enable Pakistan to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth,” according to a statement. The agreement is subject to approval by the IMF’s executive board. “The program aims to capitalize on the hard-won macroeconomic stability […]
International Monetary Fund (IMF) officials held virtual negotiations with the provincial officials of Pakistan for the new loan program. Sources said the IMF officials urged the provincial authorities to slap a tax on agricultural income, which the provinces of Pakistan reportedly agreed upon. The provincial governments of all four provinces of Pakistan sought time to […]
The federal government jacked up the FED on the international flights in the budget 2024-25. According to the notification, the FED on economy and economy plus tickets has risen by 150 percent. In a letter to Pakistan’s finance ministry, the IATA has demanded to immediately roll back the imposition of 150pc tax on international air […]
