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The tax structure is progressive, aiming to fairly distribute the tax burden across different income groups. Currently, the Corporate Income tax rate is 29% for tax year 2019 and onwards whereas the corporate tax rate is 35% for Banking Industry for TY 2019. Income Tax on Export of Services, in Pakistan is 1%. However, export of IT services is ...
The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxation measures and expenditure cuts. The budget was accepted the next day.
According to a report, the population in Pakistan has grown by a CAGR of 2.1% between FY16 and FY21. With the given trend, the figure would reach 231.58 million in FY23. The overall real estate industry contributed significantly to Pakistan's GDP during the stated period with a growth rate of between 5.4 % and 5.9%.
If you haven't done so already, you still have time to contribute to a traditional or SEP IRA and reduce your tax. Each year, you have until the filing deadline—April 15, 2024 this year—to max ...
The 2024–25 Pakistan Federal Budget is a financial statement of the government's estimated receipts and expenditures for the fiscal year that runs from 1 July 2024 to 30 June 2025. [ 1 ] [ 2 ] On 12 June 2024, finance minister Muhammad Aurangzeb presented the federal budget with a total outlay of Rs18.877 trillion. [ 3 ]
The 2023–24 Punjab, Pakistan budget on 19 June I2023, the interim government of Punjab, led by Chief Minister Mohsin Naqvi, approved a budget of the fiscal year 2023-24 for the first four months (Since there is no elected government, the caretaker government lacks the authority to approve a full-year budget. However, after the revision and ...
The 2024–25 Khyber Pakhtunkhwa budget was presented on 24 May 2024 by the Khyber Pakhtunkhwa Finance Minister Aftab Alam Afridi in the Khyber Pakhtunkhwa Assembly. [ 1 ] [ 2 ] The budget was presented before the federal budget , marking a first in the country's history.
The 2022–23 Federal Budget of Pakistan was presented on 10 June 2022 by Finance Minister Miftah Ismail, with Rs 9.5 trillion budgeted for expenditure in financial year 2022–2023, which was nearly a trillion higher than the previous financial year.