Federal govt to implement seven new tax measures with IMF approval
The federal government of Pakistan has reached an agreement with the International Monetary Fund (IMF) to implement seven new taxation measures during the fiscal year 2024-25 if revenue collection falls short of the projected target by 1 per cent in the current fiscal year. According to the IMF’s “Extended Arrangement
Govt imposes withholding tax on rice sales following flour
Following the imposition of taxes on flour, the government has now implemented advance and withholding taxes on rice sales, to be collected from distributors or dealers. Moreover, the taxes will be collected from manufacturers and commercial importers under Sections 236-G and 236-H. Read More: Oil, ghee, and sugar prices increase massively
Oil, ghee, and sugar prices increase massively
Following the government’s tax-heavy budget to meet IMF requirements, prices of basic food items have risen. As of July 1, 2024, sugar, cooking oil, and ghee prices have increased. A 50-kilogram bag of sugar now costs Rs6,950, up by Rs250. Ghee prices have surged by Rs300, and cooking oil has
Honda City 1.5 latest price and withholding tax
Honda City 1.5LS CVT combines style and performance, cementing its status as a top-selling hatchback from Honda in Pakistan. The ex-factory price of Honda City 1.5LS CVT in Pakistan is Rs5,439,000. For deliveries to Islamabad or Rawalpindi, an additional Rs25,000 destination charge applies, bringing the total to Rs5,464,000, excluding withholding
850cc cars price set to soar post-budget
WEB DESK: The Federal Board of Revenue (FBR), Pakistan’s principal tax authority, has proposed a significant increase in withholding tax for vehicles boasting an engine capacity of 850cc or higher. This move, if implemented, is poised to further burden prospective car buyers financially. Furthermore, the government is contemplating augmenting the
FBR imposes 90 pc tax on mobile recharge for non-filers
The FBR's action means non-filers will be heavily taxed on any balance top-ups, irrespective of SIM blockage.
