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The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxation measures and expenditure cuts. The budget was accepted the next day.
19% (9% for small taxpayer, those with revenue in a given tax year not exceeding the equivalent of €1.2 million and that have "small taxpayer" status) [185] 9% (for income under 30.000 złotych per year) •0% income tax [186] •9% Health Insurance(non-deductible) [187] 41% or 45% •32% Income tax •9% health insurance
The tax structure is progressive, aiming to fairly distribute the tax burden across different income groups. Currently, the Corporate Income tax rate is 29% for tax year 2019 and onwards whereas the corporate tax rate is 35% for Banking Industry for TY 2019. Income Tax on Export of Services, in Pakistan is 1%. However, export of IT services is ...
The Act also provides for certain classes of taxpayers to have a year of assessment ending on a day other than the last day of February. Companies are permitted to have a tax year ending on a date that coincides with their financial year. Many older companies still use a tax year that runs from 1 July to 30 June, inherited from the British system.
The tax season for tax year 2023 has officially started and you were able to file as early as Jan. 29, 2024. Here are some other important dates: Jan. 1, 2024: The unofficial start of tax season.
This is the list of countries by inheritance tax rates. ... Pakistan: 0% Portugal: 0% Russia: 0% [22] ... This page was last edited on 24 December 2024, ...
10 January – The Supreme Court of Pakistan upholds the 2019 death sentence upon former leader Pervez Musharraf, who died in February 2023. [4] 16 January – 2024 Iranian missile strikes in Pakistan: Iran launches a missile attack within Balochistan, targeting what it describes are terrorist sites. Pakistan calls the action an "unprovoked ...
In July 2023, 138 countries agreed to move forward with the reform and committed sign the multilateral convention in the same year. The convention is expected to enter into force in 2025. The Subject-to-Tax Rule (STTR) documentation will be open to signature in October 2023.