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BUDGET
Proposed increase in taxes on telecom services in mini budget

Proposed increase in taxes on telecom services in mini budget

The proposed increase of five percent (5%) in the withholding tax (WHT) on telecommunication services and the standard rate of 17% percent sales tax on import of computers and accessories is expected in the forthcoming…

BUDGET
All set to introduce Finance Bill and State Bank autonomy bill in Parliament tomorrow

All set to introduce Finance Bill and State Bank autonomy bill in Parliament tomorrow

The government is all set to introduce the amended Finance bill, and State Bank of Pakistan (SBP) autonomy bills in Parliament for approval tomorrow (Tuesday) despite resistance by opposition. Both the bills are being introduced…

FINANCE
State Bank to be granted autonomy as parliament passes amendment bill

State Bank to be granted autonomy as parliament passes amendment bill

The State Bank of Pakistan (SBP) is soon be granted autonomy as an amendment bill was approved in the parliament on Wednesday, bringing Pakistan a step closer to reviving the $6 billion International Monetary Fund…

BUDGET
Political parties exempted in Budget from filing income tax returns and paying taxes

Political parties exempted in Budget from filing income tax returns and paying taxes

The government proposed to exempt all registered political parties of Pakistan from the obligation of submitting their annual income tax returns and wealth statements and other related record. Finance Bill 2021 presented on last Friday.…

TAXATION
PTI decided to abolish Income Tax Exemptions through Presidential Ordinance

PTI decided to abolish Income Tax Exemptions through Presidential Ordinance

The federal government of Pakistan Tehreek-e-Insaf (PTI) has decided to abolish income tax exemption of Rs 140 billion on the condition of International Monetary Fund (IMF). According to the details, the government has decided to…