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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] The same day, a copy of the ...
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 taxes and expenditure cuts. The budget was accepted the next day.
For example, the United States government Fiscal Year 2024-25 is: 1st quarter: 1 October 2024 – 31 December 2024; 2nd quarter: 1 January 2025 – 31 March 2025; 3rd quarter: 1 April 2025 – 30 June 2025; 4th quarter: 1 July 2025 – 30 September 2025
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.
The Tax Cuts and Jobs Act of 2017, which was enacted during president-elect Trump’s first term, is destined to expire at the end of 2025, which would bring back prior rules and generally higher ...
Pakistan Vision 2025 is a set of goals for social, economic, security, and governance developments outlined by the government of the Islamic Republic of Pakistan to be achieved by 2025. The overall goal is for Pakistan to become an upper-middle income country by 2025 and to eventually become one of the top ten economies in the world by 2047 ...
On June 7, 2024 President Asif Ali Zardari reconstituted the National Economic Council (NEC) of Pakistan under clause (1) of Article 156 of the constitution of Pakistan. The NEC being chaired by the Prime Minister Shehbaz Sharif, and includes the chief ministers of Sindh , KPK , Punjab and Balochistan , federal ministers, nominated provincial ...
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 Tax credit on income from software and IT exports withdrawn, with a 0.25% tax on export proceeds of these services.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. A new 10% withholding tax imposed on international money transfer facilitation fees.