tax
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Tax changes in Budget 2024-25 lead to pay cuts for public, private employees | The Express Tribune
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[ad_1] ISLAMABAD: The federal government’s tax adjustments in the Budget 2024-25 have resulted in a decrease in net salaries for numerous employees across both public and private sectors, despite nominal pay raises. According to government officials, the changes in tax rates for salaried individuals have led to a situation where, even with salary increases, higher…
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Tax relief for salaried class on cards as finance ministry tasked to work out options
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[ad_1] Stack of Rs5,000 and Rs1,000 notes. — AFP/File Prime Minister Shehbaz Sharif-led government is mulling over options to provide income tax relief to the salaried class as he has assigned this special task to his economic team, Geo News reported citing sources within the finance ministry. The development came as the coalition government comes under…
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SRB allows top Karachi restaurants to collect 15% service tax instead of 8%
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[ad_1] Representational image of a diner making a POS payment at an eatery. —Unsplash KARACHI: The Sindh Revenue Board (SRB) has authorised 58 restaurants and hotels in Karachi to collect a 15% service tax on digital payments, nearly double the previously applied 8%, thereby withdrawing an incentive that was earlier implemented to broaden economic documentation.…
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G20 highlights digital tax discussions amid US tariff threat | The Express Tribune
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[ad_1] Talks over a global tax deal are continuing well past a June 30 deadline and governments are now looking to a Group of 20 finance leaders meeting this week for progress on a stalled plan to reallocate taxing rights on large multinational companies. The so-called “Pillar 1” arrangement, part of a 2021 global two-part…
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Ultra-rich threaten to leave Britain over tax changes | The Express Tribune
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[ad_1] For ultra-wealthy entrepreneur Bassim Haidar, living in London has become an expensive indulgence he can no longer justify. While new British Prime Minister Keir Starmer settles into No. 10 Downing St, Haidar is searching for homes in Greece and Monaco, because a proposed inheritance tax revamp will make Britain a ‘no go’ zone for…
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Provinces ‘accede’ to IMF’s demand for tax on agri income
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[ad_1] Agriculture Department officials on a tractor spray pesticides to kill locusts as a farmer works in a field in Pipli Pahar village in Punjab in this picture taken on February 23, 2020. — AFP ISLAMABAD: As Pakistan looks to secure another International Monetary Fund (IMF) programme, provincial governments have accepted the lender’s demand seeking imposition…
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IMF proposes 45% tax on agriculture income | The Express Tribune
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[ad_1] ISLAMABAD: As Pakistan seeks a multibillion-dollar bailout from the International Monetary Fund (IMF) to stabilise its chronically ailing economy, the global lender has suggested imposition of a standard individual income tax rate of up to 45% on agriculture income – something that may end the disparity in income tax regime without the need to…
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FinMin Aurangzeb says all traders to be brought under tax net without exception
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[ad_1] Finance Minister Muhammad Aurangzeb is interviewed during the G20 Finance Ministers and Central Bank Governors’ Meeting at the IMF and World Bank’s 2024 annual Spring Meetings in Washington. — Reuters Finance Minister Senator Muhammad Aurangzeb reiterated on Saturday that all traders would be brought under the tax net without exception, as the government faces…
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Shehzad Roy urges PM Shehbaz to retract sales tax on books
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[ad_1] Renowned singer and humanitarian Shehzad Roy. — UNODC/File Renowned singer and humanitarian Shehzad Roy has requested the Pakistan Muslim League-Nawaz (PML-N)-led government to retract the 10% sales tax imposed on books in the Budget 2024-25. In a X post on Monday, the philanthropist informed that he spoke with Prime Minister Shehbaz Sharif and Planning Minister…
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Retail sector advocates sustainable tax policies | The Express Tribune
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[ad_1] ISLAMABAD: In a crucial meeting with the Senate finance committee, representatives of the Pakistan Retail Business Council (PRBC) presented their point of view against the proposed increase in sales tax from 15% to 18% on Point of Sales (POS)-connected retailers. The plea was compelling enough that it not only won the consensus of all…
