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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 Federal Board of Revenue (FBR) (Urdu: وفاقی بورڈ محصولات), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax ...
An insured person typically becomes eligible to get pension after reaching the age of 60 and completing 15 years of insured service. Old age pension - This pension is provided in an event of retirement; Survivors' pension - Survivors pension is provided to the nominees of the insured person in event of death of the insured person. As per ...
National Employment Savings Trust (NEST) is one of the qualifying pension schemes that employers can use to meet their new duties. It was set up as part of the government's workplace pension reforms. Nest is a trust-based defined contribution pension scheme, run by a trustee (Nest Corporation) on a not-for-profit basis.
In May 2022, the FBR (Federal Board of Revenue) executed the transfer and posting of 24 senior officers within the IRS. [6] Subsequently, in August 2022, 21 senior officials of the IRS were also transferred and posted, and among the changes was the appointment of Malik Amjad Zubair Tiwana as the new Member (IR Operations) of the FBR. [7]
The Internal Revenue Service announced record-high maximum annual contributions to 401(k) and similar retirement accounts for 2023. Workers who have a 401(k), 403(b), most 457 plans, and the ...
The Federal Board of Revenue (FBR) is the principal tax administration body in Pakistan. It is responsible for formulating, implementing, and enforcing tax laws. The FBR has faced criticism for its inefficiency and corruption, which has hindered tax collection efforts. The FBR operates under the Ministry of Finance and is tasked with:
Pensions in Pakistan are provisions which are provided to retired employees. [1] Because only the retired formal sector mostly benefits from pensions, most of the social schemes and retirement welfare system in the country cover a small proportion of the old-age population, whereas a significant proportion of the elderly population working in the informal sector remains largely unprotected by ...