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

Pakistan and Kuwait have agreed to formalise Memorandum of Understandings (MoUs) for collaboration in various areas. During the 5th Session of the Pakistan-Kuwait Joint Ministerial Commission; held from 28 – 30 May, 2024, in Kuwait; both

The income tax treaty between Estonia and Pakistan officially entered into force on 30 April, 2024, marking a significant milestone in bilateral economic relations. Signed on 20 November, 2023, this historic agreement is the first of its kind

On Friday, 3 May 2024, Pakistan enacted the Tax Laws (Amendment) Act, 2024 (the Amendment Act). This law substantially modifies the tax appeals procedures for sales tax, federal income tax, and federal excise laws. These reforms aim to

The Federal Board of Revenue (FBR) in Pakistan, announced on 30 April, 2024, that they will be disabling the mobile phone SIMs of more than half a million people in the country.  These individuals have not filed their income tax returns for the

The Pakistan Federal Board of Revenue (FBR) has introduced a new tax procedure called the "Tajir Dost (Special) Procedure 2024" aimed at taxing small traders and shopkeepers. This procedure applies starting from 1 April 2024, with advance tax