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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 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.
Below is a summary of the applicable sales tax rates in Pakistan: [7] Sales tax on goods: 18%; Sindh Sales tax on services: 15%; Punjab Sales tax on services: 16% [8] Balochistan Sales tax on services: 15%; Khyber Pakhtunkhwa (KPK) Sales tax on services: 15%; Islamabad Capital Territory (Tax on Services): 15% [9]
The government implemented the new tax regime with the expectation that the changes in tax brackets would occur in a gradual rather than sudden manner. [3] Despite the simplified mechanism and reduced tax burden of the New Tax Regime, taxpayers were still choosing to opt for the old regime and took advantage of tax deductions.
A few months later Optiva Corporation changed its name to Philips Oral Healthcare, Inc. By the end of 2001, Sonicare had become the number-one selling rechargeable power toothbrush in the United States. [11] In 2003, to improve Philips brand recognition in the US, Philips rebranded the Sonicare toothbrush as "Philips Sonicare".
Reduced tax rate on income from Bahbood certificates from 10% to 5%. Tax credit on income from software and IT exports withdrawn, with a 0.25% tax on export proceeds of these services. Commercial importers now taxed under a final tax regime. A new 10% withholding tax imposed on international money transfer facilitation fees.
Established as the Central Board of Revenue on 1 April 1924 through enactment of the "Central Board of Revenue Act, 1924".In 1944, the CBR was put under the Revenue Division with the Ministry of Finance until 1960, when on the recommendations of the "Administrative Reorganization Committee", the CBR was made into a division of the Ministry of Finance.
7136 (US$25) billion. [2] Rs. 1289 (US$4.50) billion for defense, Rs. 83.3 (29¢ US) billion for education (7.9 per cent from higher than the last budget), Rs. 70 (24¢ US) billion were allocated for preventing coronavirus, Rs. 80 (28¢ US) billion for special economic zones. No new taxes were introduced in the budget. [2]