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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.
The 2024–25 Pakistan Federal Budget is a financial statement of the government's estimated receipts and expenditures for the fiscal year that runs from 1 July 2024 to 30 June 2025. [ 1 ] [ 2 ] On 12 June 2024, finance minister Muhammad Aurangzeb presented the federal budget with a total outlay of Rs18.877 trillion. [ 3 ]
2021–22 Pakistan federal budget; 2022–23 Pakistan federal budget; 2023–24 Azad Jammu and Kashmir budget; 2023–24 Pakistan federal budget; 2023–24 Balochistan budget; 2023–24 Gilgit-Baltistan budget; 2023–24 Khyber Pakhtunkhwa budget; 2023–24 Punjab, Pakistan budget; 2023–24 Sindh budget; 2024–25 Khyber Pakhtunkhwa budget
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
11.5% (highest prevailing marginal state and local sales tax rate) 0% (lowest prevailing marginal rate) 20% 18%-40% federal with offset against individual State Estate and Inheritence Taxes [247] Taxation in the United States Uruguay [43] 25% 0% 36% [248] 22% (standard rate) 11% (lowest rate) 0% (extent) Taxation in Uruguay Uzbekistan [43] 12% ...
2023 tax brackets (for taxes due April 2024 or October 2024 with an extension) ... 22 percent, 24 percent, 32 percent, 35 percent and 37 percent. ... The technical definition of a marginal tax ...
Interest income from government securities now taxed at the standard rate instead of 15%. Reduced tax rate on income from Bahbood certificates from 10% to 5%. Tax credit on income from software and IT exports withdrawn, with a 0.25% tax on export proceeds of these services. Commercial importers now taxed under a final tax regime.
For heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023. Tax Brackets. For tax year 2024, the top tax rate ...