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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]
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.
Income tax on export of services in Pakistan is 1%. However, the export of IT services is taxed at a reduced rate of 0.25% if registered with PSEB, Pakistan Software Export Board. [5] In addition to corporate tax, there are other applicable income taxes including super tax, minimum tax, and tax on undistributed reserves.
The budget included funding for a number of development initiatives to increase the nation's economic growth rate. The original outlays for the PDSP being estimated at Rs. 2.66 trillion for the development programme, which included a Rs 950 billion federal Public Sector Development Programme (PSDP), that was approved by the Annual Plan Coordination Committee (APCC). [5]
Taxation, which includes income tax, sales tax, and customs duties, constitutes a substantial portion of revenues, bolstering both federal and provincial government finances. Non-tax revenue sources, such as mark-up from state enterprises, surplus profits from the State Bank of Pakistan , and royalties on oil and gas, further contribute ...
22–25 September – At least 25 people are killed in clashes between Sunni and Shia Muslims caused by a land dispute in Kurram District, Khyber Pakhtunkhwa. [132] 22 September – A police officer is killed and four others are injured in an IED attack on a multinational diplomatic convoy in Malam Jabba, Khyber Pakhtunkhwa. [133]
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 ...
Download QR code; Print/export ... Pages in category "November 2024 in Pakistan" ... 0–9. 2024 India–Pakistan smog; K. 2024 Kurram attack; N. November 2024 PTI ...