Tag: tax rates
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PBC warns more skilled Pakistanis will leave country due to increased taxes on salaried class
The Pakistan Business Council (PBC), the country’s foremost corporate advocacy platform, has issued a stark warning regarding the potential consequences of the proposed budgetary measures on the salaried class.
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Govt increases excise duty on registration of cars over 2000cc
The federal government has implemented a considerable increase in excise duty on vehicle registration for vehicles with engine capacities exceeding 2000CC in the Finance Bill for the fiscal year 2023-2024.
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IMF criticises Pakistan’s budget for FY24, urges govt to enhance revenue generation
The Ministry of Finance high-ups informed the Senate Standing Committee on Finance and Revenues that the International Monetary Fund (IMF) has expressed serious objections regarding the budgetary framework for 2023-24. The IMF has urged the government to increase both tax and non-tax revenues. A senior Ministry of Finance official acknowledged the IMF’s dissatisfaction with the…
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Govt raises tax rates for salaried class on IMF demands
In response to the International Monetary Fund’s (IMF) recommendation to eliminate relief provided on June 10, the coalition government on Friday announced amended tax deduction rules for the salaried class. The News reported on Saturday that the Federal Board of Revenue’s (FBR) target for tax collection for the fiscal year 2022–23 has been raised to…