The new coalition government has introduced seven slabs of income tax on the salaried class in the country for the… Read More
Govt Imposes Taxes on IT Export Proceeds
The government has imposed a 0.25 percent tax on the export proceeds of computer software or IT services through Finance… Read More
These are Highlights and Salient Features of the Federal Budget 2022-23
Finance Minister Dr. Miftah Ismail presented the Federal Budget in the Parliament House for the fiscal year 2022-23. The total… Read More
Pakistan Faces Annual Tax Evasion of Rs. 3 Trillion: Miftah
Finance Minister Miftah Ismail Friday claimed that tax evasion in the country amounts to Rs. 3,000 billion annually. He made… Read More
These Are New Car Prices After 200% Increase in Advance Tax in Budget 2022-23
The federal government has imposed a 200 percent advance tax on the purchase of cars with engine displacement over 1600cc… Read More
Govt Can Now Block Phones, SIMs and Utility Connections of Non-Filers After Budget
Instead of taking holistic steps to motivate the masses to file their income tax returns, the Finance Ministry has enacted… Read More
Govt Imposes New Taxes for Capital Gain on Immovable Property Under Budget FY23
The government has proposed significant changes in the tax framework of the capital gain on immovable properties under the federal… Read More
Govt to Raise FED on Mobile Balance Usage to 19.5%
The government has decided to raise the Federal Excise Duty (FED) on telecommunication services from 16 percent to 19.5 percent… Read More
Annual Plans Sets GDP Size Target of Rs. 73,385 Billion for FY23
The Annual Plan and macroeconomic framework for FY2022-23 has set a gross domestic product (GDP) target of Rs. 73,385 billion.… Read More
Banking Companies to Face Increased Tax Rate of 42%
Finance Minister Miftah Ismail has proposed to increase the current tax rate on the banking companies from 39 percent to… Read More
Govt Imposes Tax on International Payments Through Debit and Credit Cards
An advance withholding tax will be levied on international payments (money sent out of Pakistan) through credit cards, debit cards,… Read More
Govt Caught Lying About ‘Huge’ Increase in HEC Budget for 2022-23
The Finance Ministry has allocated Rs. 109 billion for the Higher Education Commission (HEC) in the annual budget for FY2022-23… Read More