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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.
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] In addition to Corporate Tax, there are other applicable income taxes including Super Tax, Minimum Tax, and Tax on Undistributed reserves.
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
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 Tax credit on income from software and IT exports withdrawn, with a 0.25% tax on export proceeds of these services.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.
The Pakistani government predicts the inflation rate will remain between 12.5-11% in June–July. Inflation rate of Pakistan was 9.8% in August. [63] In 2024 Fitch Ratings upgraded Pakistan's credit rating to 'CCC+', [64] while Moody's Ratings upgraded Pakistan to Caa2. [65]
Print/export Download as PDF; Printable version; In other projects ... Pages in category "2024 in Pakistan" The following 14 pages are in this category, out of 14 ...
Punjab has the largest economy in Pakistan, contributing most to the national GDP. The province's share was 60.58% in 2020 to national economy. [ 2 ] Sindh which is the second largest province in terms of population and GDP which has steadily continued to grow, contributes 23.7% to the national economy. [ 2 ]