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Taxation in Pakistan has evolved since the country’s independence in 1947, largely based on the British colonial tax system. Initially, Pakistan inherited the tax structures and administrative mechanisms of British rule, which included a comprehensive framework for indirect taxation. Over the years, however, Pakistan has modified and adapted ...
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 budget included funding for a number of development initiatives to increase the nation's economic growth rate. The original outlays for the PDSP being estimated at Rs. 2.66 trillion for the development programme, which included a Rs 950 billion federal Public Sector Development Programme (PSDP), that was approved by the Annual Plan Coordination Committee (APCC). [5]
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 ...
For married couples filing jointly for tax year 2024, the deduction increased to $29,200, up $1,500 from tax year 2023, the IRS said. The IRS noted that for the head of household, the standard ...
In 1967, during East Pakistan governance, provincial authorities named Mia the top taxpayer in the region. [14] In independent Bangladesh as well, Mia consistently received National Tax Card awards from the National Board of Revenue (NBR) for over a decade, being named the best taxpayer in the business category for 15 consecutive years as of 2023.
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 violation" of its airspace resulting in the death of two children and injuries to three others.
Download as PDF; Printable version ... With a population of 254.4 million people as of 2024, Pakistan's position at per capita income ... Profit Before Tax 608 612 ...