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Tag: Finance Bill 2024

filing income tax
Pakistan
  • Web Desk
  • Sep 18, 2024
Sept 30 last date to file Income Tax returns

The Federal Board of Revenue (FBR) has set September 30 as the deadline for income tax returns for the financial year 2023-24.

The government issued a notification abolishing the 0.5 per cent advanced withholding tax imposed on petrol pumps from July 1, as outlined in the Finance Bill 2024.
Pakistan
  • Web Desk
  • Jul 06, 2024
Government abolishes advance income tax on petrol pumps

Petrol pumps were previously subject to a 12.5 per cent withholding tax on their margins. The recent decision to eliminate the advanced income tax was aimed at simplifying the tax structure for petrol pump operators.

Finance Bill 2024
Business
  • Web Desk
  • Jun 30, 2024
Finance Bill, Budget FY2024-25 signed by the President

A signed copy of the Finance Bill has also been sent to the Parliament. The Rs 18.877 trillion budget was presented by the federal government to the National Assembly on June 28, 2024 amid opposition’s protests.

bank accounts non-filers
Pakistan
  • Web Desk
  • Jun 26, 2024
Govt mulling to block bank accounts of non-filers

The non-filers would be able to continue to deposit money in banks, but cannot withdraw the amount till they become filers and their names appear on the ATL.

FBR transformation plan
Business
  • Web Desk
  • Jun 15, 2024
FBR forms committees to address Finance Bill 2024 anomalies

Chairman of the Federal Board of Revenue (FBR), Malik Amjed Zubair Tiwana, has announced the formation of two anomaly committees to address and resolve business and technical discrepancies in the Finance Bill 2024.

The government decided agaisnt accepting the proposal to tax pensions in the fiscal year (FY) 2024-2025 on Monday.
Business
  • Web Desk
  • Jun 04, 2024
Government decides against taxing pensions in FY25 budget

The government directed tax authorities to explore alternative revenue measures to prevent taxing pensioners.

KP govt
Pakistan
  • Faqeer Hussain
  • May 27, 2024
KP govt hikes taxes on tobacco, property and traffic violations

Bill proposes one-time registration fee of Rs20,000 and an annual renewal fee of Rs15,000 for property and motor car dealers

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