News & Updates

News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Here Are the Salient Features of Budget 2024-25

The federal government has announced the budget for the fiscal year 2024-25. Finance Minister Muhammad Aurangzeb present...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Likely to Impose 29% Income Tax Rate on Exporters

The federal government has proposed to increase the income tax rate for exporters by 1 percent on export proceeds, sourc...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Likely to Impose Up to 45% Tax Rate on Non-Salaried, AOPs

The federal government has introduced revised slab tax rates for non-salaried persons and Associations of Persons (AOP)...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt to Present Rs. 18.9 Trillion Federal Budget 2024-25 Today

Finance Minister Muhammad Aurangzeb will present the federal budget 2024-25 in parliament today. This will be a budget o...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt to Increase Import Duty on Steel to Boost Local Manufacturing

The federal government has decided to increase the import duty on steel, ball bearings, paper products, etc. in order to...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Telcos, Utility Companies to Face Rs. 100 Million Fine for Ignoring New Tax Rules for Non-Filers

The federal government is considering imposing heavy financial penalties on telecom and utility companies that do no coo...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Expects to Make Over Rs. 32 Billion By Selling 4G Licenses in FY 2024-25

The government has budgeted Rs. 32.612 billion from 4G licenses under the head of non-tax revenue for the next fiscal ye...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Budget 2024-25 Increases Federal Excise Duty on Cement by 50%

In a move set to impact the construction industry, the incumbent government announced a significant increase in the Fede...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt to Impose Sales Tax Withholding Regime for Coal, Paper Scrap Sectors

The federal government has decided to impose sales withholding tax on copper, coal, paper and plastic scrap. Finance Min...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

FBR Likely to Get Power to Notify Minimum Value of Import Goods for Income Tax Collection

The federal government is considering a proposal to empower the Federal Board of Revenue (FBR) to notify the minimum val...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Full Budget 2024-25 Speech in Urdu

Finance Minister Muhammad Aurangzeb is currently presenting the federal budget 2024-25 in parliament today. Here’s the f...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

FBR Is Trying Very Hard to Avoid Investigating Its Officers For Selling Non-Custom Items

Federal Board of Revenue (FBR) customs authorities are trying hard to avoid the investigation against a criminal gang in...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Faysal Bank Bags ‘Best Digital API’ Award at Pakistan Digital Awards 2024

Faysal Bank Limited’s (FBL) WhatsApp Banking Application has been honored with the ‘Best Digital API’ Award at the Pakis...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt to Withdraw Tax Exemptions for Ex-FATA/PATA

The federal government has decided to withdraw exemptions given to Ex-FATA/PATA. Finance Minister Muhammad Aurangzeb ann...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Likely to Extend Withholding Tax Regime to All Sectors in Value Chain

The federal government is considering extending withholding tax regime to all sectors in the value chain. According to s...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Reduces Tax Benefit for Educational Institutes in Budget 2024-25

The federal government has proposed to restrict tax credit to 80 percent for educational institutions which are non-prof...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Late Return Filers Set to Face Additional Tax on Sale, Purchase of Property

The government is considering increasing withholding tax rate progressively on the sale and purchase of immovable proper...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Budget 2024-25: Government Implements Hiring Freeze for Grade 1 to 16

The Government of Pakistan has announced a freeze on new hirings for Basic Pay Scale (BPS) 1 to 16 positions. This decis...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Ends Tax Exemption For Expensive Electric Vehicles in Budget 2025

In a new proposal, the government has suggested withdrawing tax exemptions enjoyed by electric cars valued above $50,000...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Considering 75% Tax on Mobile Calls for Non-Filers

The government is considering a proposal to impose a 75 percent tax on mobile phone calls of non-filers in a bid to stre...

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News Update

12

Jun 2024

Jun 12, 2024 • 5 min read

Govt Considering Additional Tax Measures of Nearly Rs. 1.5 Trillion in FY25 Budget

The federal government is considering additional tax measures of nearly Rs. 1.5 trillion in the upcoming federal budget....

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