Budget in front but Pakistan and IMF will discuss taxes next week

Budget in front but Pakistan and IMF will discuss taxes next week

Pakistan and the International Monetary Fund (IMF) are working to eliminate their differences over new taxation measures. The government’s willing to increase sales tax rate on fertilizer to 10% and charge 17% tax on import…

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IMF programme & SBP Amendment Bill Open to Reviews in Parliament, says Azhar

IMF programme & SBP Amendment Bill Open to Reviews in Parliament, says Azhar

The government has the right to review the International Monetary Fund (IMF) program and is open to the State Bank of Pakistan (SBP) for recommendations to improve the sovereignty bill, new Finance Minister Hammad Azhar…

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Cabinet approved budget proposals to meet the IMF’s Demands

Cabinet approved budget proposals to meet the IMF’s Demands

The federal cabinet has approved a new budget to impose a tax of Rs 140 billion to meet a condition of the International Monetary Fund (IMF). An increase of 1.4 Trillion rupees through tax exemptions.…

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Additional Taxes of 700 billion expected In Upcoming Budget under IMF Deal

Additional Taxes of 700 billion expected In Upcoming Budget under IMF Deal

Under the International Monetary Fund (IMF) agreement, Pakistan will raise additional revenue of 1.4% of its economy size or more than Rs. 700 billion to achieve its tax collection target in the next financial year.…

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IMF reports stagflation in Pakistan

IMF reports stagflation in Pakistan

Pakistan’s economy may grow by 1%, inflation may cross above 10%. Unemployment going to increase by the end of this fiscal year. Facts speculated in the World Economic Outlook (WEO) report that the International Monetary…

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Bad News for Salaried & Retired Employees in Upcoming Budget

Bad News for Salaried & Retired Employees in Upcoming Budget

The government has accepted to the condition put by the International Monetary Fund (IMF) to charge income tax on monthly pensions in the upcoming budget, Finance Act 2021 , according to media reports. According to…

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Rupee Continues to weaken against dollar

Rupee Continues to weaken against dollar

The rupee continued to weaken against the US dollar at Rs155.78 in the inter-bank market on Tuesday compared with closing at Monday’s at Rs155.3, revealed by the State Bank of Pakistan (SBP). Earlier, the SBP…

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Shaukat Tarin warns Tax defaulters of action after third-party audit

Shaukat Tarin warns Tax defaulters of action after third-party audit

Federal Minister for Finance and Revenue Shaukat Tareen has warned that if any error is found after a third party audit, it will result in the launch of an investigation and penal action. “In this…

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Govt called for the National Assembly session on June 11 to present the budget

Govt called for the National Assembly session on June 11 to present the budget

The federal government on Friday call for the National Assembly session on June 11 to present the budget for the fiscal year 2021-22. Adviser to Prime Minister on Parliamentary Affairs Babar Awan and National Assembly…

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Shaukat Tarin seeks time to present budget for Fiscal Year 2021-2022

Shaukat Tarin seeks time to present budget for Fiscal Year 2021-2022

Minister for Finance Shaukat Tarin has sought more time from the National Assembly speaker for presenting the annual budget for fiscal year 2021-22. According to media reports, the speaker’s chamber had contacted Shaukat Tarin and…

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