Budget 2024-25

Financial difficulties among urban households in Pakistan have surged by 14% over the past year, resulting in a staggering 74%… Read More

The Federal Board of Revenue (FBR) has shared details on the collection of taxes on earnings from real estate developers… Read More

The Finance Division has issued a strategy for the release of funds for the development budget for the financial year… Read More

Finance Minister Muhammad Aurangzeb on Thursday told the National Assembly Standing Committee on Finance and Revenue that a staff-level agreement… Read More

The International Air Transport Association (IATA) has called on Pakistan to reduce the new tax on airline tickets. The federal… Read More

After forcing banks to deduct 13 percent of provincial sales tax on advertisement services last year, the Sindh Revenue Board… Read More

The income tax exemption to pensioners has caused an annual revenue loss of Rs. 78 billion to the national kitty.… Read More

The federal government has imposed a fixed tax rate of up to 20 percent on winnings from prize bonds and… Read More

The federal government has imposed a fixed tax rate up to Rs. 5,200 per kit on the import of mobile… Read More

The auto industry has requested the federal government to impose a 25 percent regulatory duty on imported small (used) cars… Read More

Bad news for people looking to travel abroad as all airlines have announced a substantial hike in the federal excise… Read More

The government has imposed a 2 percent additional customs duty on 2200 items to collect billions in revenue during the… Read More

The Finance Bill 2024 has imposed increased regulatory duties on a wide range of imported goods, with rates varying from… Read More

The price of packaged milk has increased by Rs. 75 per liter or 25 percent after the federal government’s pro-IMF… Read More

The retail price of cement has been increased up to Rs. 120 per bag in Pakistan. According to JS Global,… Read More

The Salaried Class Alliance of Pakistan has appealed to the Supreme Court of Pakistan to take suo moto notice against… Read More

The government has expanded the scope of taxation for those non-residents who earn income in Pakistan through digital means/presence under… Read More

Finance Minister Muhammad Aurangzeb said today he was quite optimistic that Pakistan will get a new and final bailout from… Read More

President Asif Ali Zardari has approved the Finance Bill 2024 under Article 75 for fiscal year 2024-25. The approval comes… Read More

Pakistan on Friday quickly passed the IMF-made Federal Budget 2024-25 with some 11th-hour tweaks that effectively doubled the tax rate… Read More

The exporters of goods, whether direct or indirect exporters, shall be subject to advance tax at 1 percent of the… Read More

The government has exempted Commissioner Inland Revenue from payment of a court fee of Rs. 50,000 on filing an income… Read More

The federal government has imposed a 10 percent surcharge on the tax liability of high-earners under the Finance Bill 2024.… Read More

The federal government has imposed a capital value tax (CVT) on farmhouses and big houses in Islamabad. According to the… Read More

The 2024-25 federal budget has been officially passed by the National Assembly during its session in Islamabad today. Finance Minister… Read More

The National Assembly on Friday approved the tax-heavy FY25 budget, ahead of talks on a new International Monetary Fund (IMF)… Read More

The federal government has hiked the excise duty on business and club class air tickets up to Rs. 350,000 in… Read More

The federal government has decided to establish a new department called (Tax Fraud Investigation Wing Inland Revenue) to detect and… Read More

The National Assembly is set to pass the Finance Bill 2024 for the upcoming fiscal year today paving the way… Read More

The federal government has decided not to increase the petroleum development levy (PDL) by Rs. 20 per liter on MS… Read More

Atif Iqbal Sheikh, President FPCCI, has voiced strong concerns about the recently announced Federal Budget 2024 – 25 vis-à-vis the… Read More

Prime Minister Shehbaz Sharif has likely dented any chances of withdrawal of 15 percent income tax on banks after ordering… Read More

The federal government, just before the passage of next year’s Finance Bill, proposed some important amendments related to non-filers, wealth… Read More

The federal government has decided to withdraw tax exemptions on herbal and homeopathic medicines and impose an 18 percent sales… Read More

Tax Payers Alliance Pakistan (TPAP) – an initiative of the economic think tank PRIME (Policy Research Institute of Market Economy),… Read More

The federal government will likely abolish up to 15 percent additional income tax on the banks’ profits made by extending… Read More

The government will impose a sales tax on stationery items despite the announcement of Finance Minister Muhammad Aurangzeb, during the… Read More

The International Monetary Fund (IMF) has declined key concessions proposed in the Finance Bill 2024. The IMF has also refused… Read More

MS petrol and High-Speed Diesel (HSD) prices are expected to rise sharply on the last day of the current fiscal… Read More

The federal government has withdrawn proposal to impose 25 percent sales tax on hybrid electric vehicles (HEVs) in Finance Bill… Read More

The federal government has scrapped a proposal to increase the retirement age of public sector employees, military personnel, and civil… Read More

The government is likely to block bank accounts of non-filers and has also decided to fix the amount of sales… Read More

Pakistan Tea Association (PTA) has expressed its profound concerns and apprehensions vis-a-vis the proposed budget’s continuation of sales tax and… Read More

The American Business Council has urged the federal government to reconsider the removal of the 25 percent Sales Promotion, Advertising… Read More

The government is considering withdrawing its proposal to bring exporters into the normal tax regime. Instead, it may impose a… Read More

The Senate Committee on Finance and Revenue on Monday unanimously rejected the federal government’s proposal to increase taxes on salaried… Read More

Prime Minister Shehbaz Sharif and Planning Minister Ahsan Iqbal have reassured Pakistani singer Shehzad Roy that the government will reconsider… Read More

A delegation of Pakistan Business Council (PBC) led by Chairman PBC Shabbir Diwan called on Federal Minister for Finance and… Read More

Finance Bill 2024 has empowered Inland Revenue officials to conduct an investigative audit of persons suspected to be involved in… Read More

The Senate Standing Committee on Finance and Revenue has rejected the government’s budget proposal to impose an 18 percent sales… Read More

Chairman Senate Finance Committee Salim Mandviwala has criticized the Federal Board of Revenue (FBR) for using aggressive measures to meet… Read More

The Senate Standing Committee on Finance and Revenue convened its 9th consecutive session to finalize recommendations on the Finance Bill… Read More

The telecom industry raised alarms over the proposed imposition of taxes on mobile handsets and telecom services in the country.… Read More

Senator Faisal Vawda today questioned the rationale behind exemptions for non-filers during religious pilgrimages like Hajj and Umrah and suggested… Read More

The Finance Bill 2024 has allowed the Commissioner Federal Board of Revenue (FBR) to demand wealth statements and details of… Read More

The National Electric Power Regulatory Authority (NEPRA) has imposed fixed charges ranging from Rs. 200 to Rs. 1,000 per month… Read More

The salaried class pays tax on gross earnings without any allowable deduction, as against other classes of taxpayers, so the… Read More

A meeting of the Senate Standing Committee on Finance and Revenue was held under the chairmanship of Senator Saleem Mandviwala… Read More

The government may amend Finance Bill 2024 to impose phase-wise sales tax on infant formula etc. The phase-wise taxation under… Read More

Pakistan’s ambitious FY2024-25 budget strengthens prospects for an IMF deal, Fitch Ratings said in a report on Tuesday. It is… Read More

The Ministry of Planning and Development, under the leadership of Minister Ahsan Iqbal, has announced the establishment of the National… Read More

Pakistan’s tax growth (including petroleum development levy) is projected to reach 40 percent for fiscal year 2024-25 compared to a… Read More

Finance Minister Muhammad Aurangzeb on Tuesday said the federal government was finding it very hard to give relief to the… Read More

MS petrol has long been a big gossip point for everyone since it nearly doubled in rates two years ago.… Read More

The Federal Board of Revenue (FBR) has constituted two Anomaly Committees to rectify errors created by the FBR in Finance Bill… Read More

The Sindh government has raised the provincial sales tax on services to 15 percent, effective July 1. The expected revenue… Read More

The Telecom Operators Association has expressed serious concerns over the coalition government’s budget proposals for 2024-25, warning that increased taxes… Read More

The Senate Standing Committee on Finance and Revenue convened for its 5th session to study the provisions of the Income… Read More

The Sindh government has announced a Rs. 3.056 trillion budget for the fiscal year 2024-25. The budget was presented by… Read More

The Pakistani rupee (PKR) gained further ground 2nd day in a row against the US Dollar today after opening trade… Read More

The 2024-25 federal budget is expected to have a mixed impact on the construction sector. According to a report by… Read More

The Punjab government has unveiled a comprehensive budget of Rs42.5 billion for the school education department for the fiscal year… Read More

The federal budget 2024-25 will likely support Pakistan’s ongoing negotiations with the International Monetary Fund (IMF) for a new Extended… Read More

The Senate Standing Committee on Finance and Revenue reviewed the Finance Bill 2024 under the chairmanship of Senator Saleem Mandviwala… Read More

The budget for the National Assembly has been increased by Rs. 4 billion for the next fiscal year. The proposed… Read More

The federal government has drawn up a Rs. 1,190 billion subsidy package for the power sector in the new federal… Read More

The Senate Standing Committee on Finance and Revenue advocated for the removal of all taxes from digital applications, highlighting the significant… Read More

The Punjab government has announced an ambitious budget for the fiscal year 2024-25, unveiling a significant initiative aimed at providing… Read More

Advisor to the Chief Minister for Information, Barrister Muhammad Ali Saif, announced on Thursday that the provincial government is prepared… Read More

Women throughout the port city of Karachi have expressed dismay over the anticipated price rise for essential makeup items following… Read More