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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 same day, a copy of the ...
6.9% (for minimum wage full-time work in 2024: includes 20% flat income tax, of which first 7848€ per year is tax exempt for low-income earners + 2% mandatory pension contribution + 1.6% unemployment insurance paid by employee); excluding social security taxes paid by the employer
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.
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
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 taxed at reduced rate of 0.25% in registered with PSEB, Pakistan Software Export Board. [5]
Sadiq Sanjrani (Until 9 March 2024) [1] Chairman of the Senate: Yusuf Raza Gillani (From March 9) 4: Raja Pervaiz Ashraf (until 1 March 2024) Speaker of the National Assembly: Ayaz Sadiq (from 1 March 2024) 5 Yahya Afridi: Chief Justice of Pakistan: 6 Sikandar Sultan Raja: Chief Election Commissioner of Pakistan: 7 16th National Assembly of ...
A 1% tax on deemed rental income applied to the fair market value of certain immovable properties owned by resident persons in Pakistan. Revised capital gains tax on immovable properties in Pakistan to tax sales of open plots held for less than six years. Capital gains on foreign held immovable properties will be taxed at the standard rate ...
Income tax slabs applicable for financial year 2015–16 (Assessment Year- 2016–17)is summarized below: ... + 25% for each MYR 1 over MYR 400,000 ... an increase ...