Taxation and Finance category contains all the blogs that elaborates the taxation regime and financial sector updates in Pakistan
ISLAMABAD: December 7, 2024 — Paksitan’s weekly inflation slows to 3.57%. It is the Short-term inflation, as measured by the Sensitive Price Index (SPI), measured as 3.57% year-on-year for the week ending December 5, signaling relief for consumers amidst easing prices of vegetables and pulses. This marks the second consecutive week of deceleration, with inflation…
KARACHI: Finance Minister Muhammad Aurangzeb has announced that Pakistan is on track to achieve an all-time high of $35 billion in FY25 workers’ remittances, compared to $30.25 billion in FY24. Speaking at the Overseas Investors Chamber of Commerce and Industry (OICCI) in Karachi, he emphasized that the rupee-dollar exchange rate is now dictated by market…
KARACHI: In a significant move, the Pakistan Business Council (PBC) has expressed optimism about the expected policy rate cut of 200 basis points (bps) reduction in the policy rate during the upcoming Monetary Policy Committee – MPC meeting on December 16. With inflation showing signs of stability, this cut could be the first of several,…
ISLAMABAD: As Pakistan’s exports rise by 12.57%, the overall trade performance has shown a mixed but promising trend in the first five months of the fiscal year 2024-25, with significant improvements in exports and a narrowing trade deficit. The data, released by the Pakistan Bureau of Statistics (PBS), reflects both year-on-year (YoY) growth and monthly…
Islamabad: Pakistan’s Inflation Rate in November 2024, measured by the Consumer Price Index (CPI), dropped to 4.9%, marking the lowest level in six and a half years, according to the Pakistan Bureau of Statistics (PBS). This notable decrease brings relief to consumers and is a positive indicator for the country’s economy, which has been grappling…
ISLAMABAD— FBR teams up with NADRA to curb tax evasion with the use of technology. The Federal Board of Revenue is working on making tax evasion and avoidance even more difficult, to boost tax revenue. The Federal Board of Revenue (FBR) and the National Database and Registration Authority (NADRA) are advancing their collaborative efforts to…
ISLAMABAD – The Federal Board of Revenue (FBR) is gearing up to significantly raise in immovable property valuations, with an expected increase of up to 75% of current market values. Present Status to Raise in Immovable Property Valuations As per media reports, the much-awaited notification regarding these revised property values, which had faced delays, is…
ISLAMABAD – The Federal Board of Revenue (FBR) has recently announced a significant increase in the sales tax on tractors both imported and locally assembled in Pakistan, raising it from 10% to 14%. The change might result in a tractor price increase by Rs.80,000. This decision, part of broader government efforts to boost revenue, has…
Agriculture Income Tax is expected to get a big rise in the upcoming financial year 2025-26 starting from July 2025. Pakistan’s agriculture sector plays a significant role in its economy, contributing over 20% to the GDP and providing livelihoods to about 40% of the workforce. Despite its importance, agricultural income has historically escaped substantial taxation,…
Tax Filing AY 2022-23 is now a bit changed when compared to current AY 2023-24. The GoP has made certain changes in applicable tax that every tax payer must know before filing his return for AY 2023-24. The new tax rates are applicable with the passing of the annual budget by the government of Pakistan…
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