tax
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APNS, PBA reject tax amendment impacting advertising expenses
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[ad_1] A representational image of taxes. — AFP/File Citing its detrimental economic impact on the media industry, the All Pakistan Newspapers Society (APNS) and Pakistan Broadcasters on SaturdayAssociation (PBA) appealed to the government to retract the proposed amendment in the Finance Bill 2024-25 that restricts the deduction of sales promotion and advertising expenses. In separate…
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New tax on over 200 medical instruments set to drive up healthcare costs | The Express Tribune
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[ad_1] KARACHI: Federal government has imposed a sales tax on over 200 medical devices, including angiography and angioplasty equipment, as well as diagnostic kits for various diseases. The move, part of the 2024-25 fiscal budget, is expected to significantly impact the affordability of healthcare for poor patients. Experts warn that the first ever sales tax…
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Exporters demand restoration of fixed tax regime to remain competitive
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[ad_1] This picture shows a general view of the seaport in Karachi. — AFP/File To stay competitive in world markets, exporters have strongly opposed the shift of taxation on turnover from a fixed to a normal regime as the government presses ahead with its efforts to increase revenue through various taxes introduced in the upcoming…
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Govt rethinks tax proposals amid high cost of living | The Express Tribune
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[ad_1] ISLAMABAD: The government has kicked off consultations with a view to reconsider a partial rollback of the proposed income tax rate increases for salaried individuals and exporters, alongside implementing the proposed 18% sales tax on infant milk in stages. The internal deliberations come in the wake of sharp criticism from all segments of society…
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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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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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Deputy mayor says toll tax on Karachi roads to enhance KMC’s revenue
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[ad_1] Mayor Karachi Murtaza Wahab chairing the Karachi City Council meeting, while Deputy Mayor Karachi Salman Abdullah Murad is also present in the meeting held on June 10, 2024. —X/ @SalmanAMurad KARACHI: In his remarks on the imposition of toll tax by City Council on vehicles plying Karachi arteries, Karachi Deputy Mayor Salman Abdullah said…
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Budget 2024-25: Income tax calculator
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[ad_1] A representational image shows a tax written on a calculator. — AFP/File Finance Minister Senator Muhammad Aurangzeb on Wednesday presented Budget 2024-25 loaded with new tax measures for the salaried and non-salaried class people with a total tax collection target of a whopping Rs12.97 trillion. The opposition lawmakers in the National Assembly chanted anti-government…
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Budget FY25: Pakistan sets challenging Rs13tr tax revenue target to woo IMF
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[ad_1] Finance Minister Muhammad Aurangzeb is presenting budget 2024-25 in the National Assembly on June 12, 2024. — APP ISLAMABAD: Preferring long-term economic sustainability over giving a short-run break to inflation-hit and income-strapped masses, Pakistan has decided to chase an overambitious tax revenue target of Rs13 trillion for the fiscal year 2024-25, to strengthen the…
