Govt Imposes Fixed Taxes on Imported Mobile Phone Kits and CBUs
The federal government has implemented a set tax rate of up to Rs. 5,200 per kit on the import of mobile phone assembly kits. For mobile phones valued up to $30, the tax is Rs. 70 for Completely Built-Up (CBU) units. Phones exceeding $30 but not more than $100 in value will have a fixed […]
Govt Imposes Up to 20% Tax on Prize Bond, Lottery Winners
This new tax policy aims to streamline the taxation process for prize winnings and ensure that individuals receiving such prizes contribute their fair share to the government’s revenue. The standard tax rate of 20 percent on prize bond and lottery winnings will help simplify the tax system and make it easier for individuals to understand […]
The Federal Board Of Revenue (FBR) Has ‘Fixed’ The Rs12,970 Billion Tax Collection Target For The Upcoming Fiscal Year 2024-25, ARY News Reported, Citing Sources.
Tomorrow (Wednesday), the coalition government led by the PML-N will unveil the budget 2024–25.According to people with direct knowledge of the situation, the budget for 2024–2025 will include direct taxes of Rs3452 billion and custom duties of Rs267 billion. Proposals have been made for new taxes on income, capital gains, sales, services, FED, and other […]
Govt Decides Not to Raise General Sales Tax Rate in New Budget
The 1 percent increase in the sales tax rate from 18 to 19 percent would not be done through the upcoming Finance Bill 2024 due to its inflationary impact on the general public
World Bank Approves $1 Billion Loan for DASU Hydropower Project
A second round of supplementary funding totaling $1 billion was granted by the World…
FBR issues Rs200 million tax notice to Netflix on income in Pakistan
According to local media, Netflix, an American over-the-top streaming service that charges…