Budget 2024: Here’s how much more you will pay for new vehicles
The new financial year has introduced higher vehicle tax rates in Pakistan, complicating the purchase of cars. This year’s budget includes a new regulatory duty on vehicle and spare parts imports, in addition to increased taxes on locally produced vehicles. For vehicles up to 850 cc, a 5 percent tax
Finance bill 2024-25: massive taxes on international flights
WEB DESK: The National Assembly of Pakistan on Friday approved the Finance Bill 2024-25, ushering in significant changes to taxation affecting foreign travel starting July 1, 2024. Under the new legislation, travelers purchasing international flight tickets will face increased excise duties. Economy and economy plus class tickets will now incur
Budget 2024: Only these non-filers can travel abroad
The Finance Bill 2024 has introduced a restriction on foreign travel for Pakistani citizens who are non-filers of income tax returns. However, this restriction will not apply to individuals holding a National Identity Card for Overseas Pakistanis (NICOP), minors, students, and other specific categories as notified by the Federal Board
Budget 2024: Locally Assembled HEV Prices Set to Increase By Over Rs. 1 Million
In a surprising turn of events, the hopes of consumers for tax exemptions or relief on local Hybrid Electric Vehicles (HEVs) have been dashed with the unveiling of the new fiscal budget for 2024-25. The Finance Bill 2024, specifically clause 73 of the 8th schedule, has struck down the previous
How much non-filers will get on Rs. 100 mobile recharge
Finance Minister Muhammad Aurangzeb has unveiled the Federal Budget for 2024-25, introducing a controversial 75 percent tax on mobile balance recharge for non-filers. The budget, which has a total outlay of Rs18.9 trillion, includes various measures aimed at encouraging tax compliance. If this proposal is approved, the new tax policy
Budget 2024-25: Solar panels prices set to decrease
In an effort to promote green energy in Pakistan, the federal government announced on Wednesday a discount on solar panels in the 2024-25 budget. To meet local demand, the government will provide discounts on solar plants, machinery, batteries, raw materials, and other components used in the manufacturing of solar panels.
Budget 2024-25: How much tax will you pay on your salary?
The government has introduced a hefty Rs1.761 trillion in new revenue measures for the next fiscal year, likely leading to further inflation. Significant changes to the tax structure for salaried individuals are among these measures, aiming to raise an additional Rs75 billion. Previously, the salary exemption limit has been static
Pakistan’s FY25 budget: the weight of expectations on the upcoming budget
Amid missing out on all major and key macroeconomic targets for the outgoing fiscal year 2023-24, the Shehbaz Sharif-led regime is heading towards a front-loaded IMF-sponsored program for three years period in a bid to stabilize the economy. Pakistan’s economy is standing at a crossroads where it has moved from
Mobile prices expected to increase after budget
In a recent meeting, Pakistan Mobile Phone Manufacturers Association (PMPMA) urged the Federal Board of Revenue (FBR) to uphold the promises made by the government to investors. It also urged the federal tax authority to avoid raising tariff structures for mobile phones. According to a local digital media outlet, ProPakistani,
