Express
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Reduction in tax rate for salaried individuals proposed | The Express Tribune
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[ad_1] The Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, has approved a 75% withholding tax on phone and internet services for non-filers while proposing a reduction in the tax rate for salaried individuals. The committee, during its meeting, approved the tax on non-filers’ phone and internet services. However, it rejected the proposal…
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Sindh hikes sales tax to 15% | The Express Tribune
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[ad_1] KARACHI: The Sindh government has announced an increase in the rate of provincial sales tax on services by 2 percentage points, raising it to 15% effective from July 1. This move is expected to exacerbate inflation as it is an indirect tax that disproportionately affects low-income groups. The government estimates that this hike will…
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Govt reduces petrol, diesel prices to ease inflation pressure | The Express Tribune
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[ad_1] The government announced on Friday a significant reduction in petrol and high-speed diesel (HSD) prices for the upcoming fortnight, providing relief to consumers grappling with inflation. Effective from June 15, petrol prices will decrease by Rs10.20 per litre, bringing the new price to Rs258.16 per litre. HSD will see a reduction of Rs2.33 per…
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Budget 2024-25: Sindh unveils Rs3.056tr budget with major focus on development, social welfare | The Express Tribune
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[ad_1] KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Friday presented a Rs3.056 trillion budget for the fiscal year 2024-25. The budget includes a significant increase in development expenditure and proposes salary hikes of 22 to 30 per cent. The budget allocates Rs959 billion, or 31 per cent, for development projects, highlighting a strong…
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Widening tax net: Govt to impose fines, jail terms on unregistered traders | The Express Tribune
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[ad_1] The federal government has decided to penalise traders required to register for income tax under Section 99B, but who fail to do so. They could face fines, up to six months in prison, or both. According to Express News, the government has also decided to impose fines and up to one year in prison…
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WATCH: Journo’s question leaves FM searching for answers | The Express Tribune
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[ad_1] Journalists staged a protest against the imposition of heavy taxes on salaried employees before Finance Minister Muhammad Aurangzeb’s press conference on Thursday. The finance minister was set to address a post-budget press conference in Islamabad when journalists stood up in protest. The journalists recorded a token protest just before the start of the press…
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Defence spending up 18% | The Express Tribune
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[ad_1] ISLAMABAD: The federal government proposed around 18% increase in the defence budget as the country continued to face internal and external security challenges, the budget document showed on Wednesday. The defence budget outlay for 2024-25 is Rs2,128 billion – less than 12% of the total budget – compared to Rs1, 809 earmarked for the…
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Agriculture sector faces funding shortfall in Budget 2024-25 | The Express Tribune
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[ad_1] LAHORE: The saviour of Pakistan’s economy for FY-24, the agriculture sector, only managed to attract Rs5 billion for the next fiscal year from the incumbent government. During his budget speech on Wednesday, Finance Minister Muhammad Aurangzeb stated that agriculture is the main pillar of Pakistan’s economy, contributing 24% to GDP and 37.4% to employment…
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Budget 2024-25: Govt likely to revise tax slabs for high-paid employees | The Express Tribune
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[ad_1] ISLAMABAD: The upcoming federal budget for 2024-25 is expected to see tax hikes and the removal of unnecessary exemptions, including a sales tax on petroleum products and revised income tax slabs for high-paid employees. According to documents, Rs2.1 trillion is allocated for defence and Rs9.7 trillion for debt servicing. Development projects will receive Rs1.5…
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PSX dips below 73,000 barrier ahead of budget announcement | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) experienced a significant downturn falling by 572 points, causing the index to drop below the 73,000-point barrier. The KSE-100 Index closed at 72,679 points. Inflation, current state of global markets, and the country’s political situation were reported as factors contributing to the dip ahead of the announcement for the…
