President Asif Ali Zardari has enacted the Income Tax (Amendment) Ordinance 2024 on 28 December, which establishes new corporate tax rates for banks. Under the ordinance, banks will face a 44% tax rate for the 2025 tax year (from 39%), gradually

Pakistani Finance Minister Muhammad Aurangzeb presented the Tax Laws (Amendment) Bill, 2024, to the National Assembly on 18 December 2024 to strengthen measures against non-filers. The proposed bill introduces strict measures targeting

Pakistan will be introducing reduced electricity tariffs this winter according to an interview of Power Minister Awais Leghari on Saturday, 9 November 2024. Business and citizens are likely to  benefit from a 7-8% reduction in power

Pakistan's Federal Board of Revenue (FBR) published a Notification S.R.O. 949(I)/2024 on 3 July 2024, which includes  new returns forms available for companies, salaried persons, and business individuals for the tax year 2024. The forms are

The Finance Bill 2024 enacts specific provisions proposed in the 2024-25 Budget on 12 June 2024, which include amendments to personal income tax, capital gain tax, sales tax, excise duty, and other taxes. These changes will take effect on 1 July,

Pakistan’s Finance Minister Muhammad Aurangzeb presented the 2024-25 federal budget of PKR 18.87 trillion (USD 68 billion) in the National Assembly yesterday, 12 June, 2024. This year’s national budget is an increase of 40% from the current