Government announce tax relief on import of solar
The government proposed tax relaxation on import of raw materials for solar panel and aquaculture industry in the country.
Mehfooz
Non-filer’s increase of taxation on Profits, securities, Immovable properties
The tax rates for non-salaried individuals and associations of persons and salaried individuals have changed. There is no income if annual income is up to Rs.600,000. Beyond this threshold, tax rates for non-salaried individuals have five taxable slabs with progressive tax rates ranging from 15% to 45%. For salaried individuals, beyond the threshold of Rs.600,000 per annum, there are five taxable slabs ranging from 5% to 35%.
Adil Aziz
Govt to introduce three slabs of rates on filers/non-filers
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb while presenting the federal budget 2024-25, said currently six percent tax is imposed on non-filers and three percent on filers for buying immovable properties.
Federal budget proposes withdrawal of exemptions, Zero rated and fixed tax
Federal budget proposes withdrawal of exemptions, Zero rated and fixed tax. Enhancement in reduced rate of sales tax from 15% to 18% on supplies made by the POS retailers dealing in leather and textile products.
Editor
Coca-Cola appoints Volkan Öngüç as new Vice President for Pakistan & Afghanistan region
Volkan Öngüç has taken charge as the new Vice President for Pakistan and Afghanistan Region of Eurasia & Middle East Operation Unit of The Coca-Cola Company.
Govt to present over Rs.18 trillion national budget today
The incumbent government is all set to present its first growth-oriented federal budget for the fiscal year 2024-25, with an estimated outlay of over Rs.18 trillion, on June 12.
Investment to GDP ratio stands at 13.14 percent in FY-2024
The investment to Gross Domestic Products GDP ratio stood at 13.14 percent in FY-2024 compared to 14.13 percent in FY-2023 mainly due to contractionary macroeconomic policies and political uncertainty.
PSX Holds Gong Ceremony on Listing of Fast Cables Ltd.
Pakistan Stock Exchange (PSX) held a gong ceremony to celebrate the listing of Fast Cables Limited (FCL). Fast Cables is a manufacturing company producing electrical cables and conductors in Pakistan. Fast Cables’ is the fifth listing via an IPO on Pakistan Stock Exchange in the fiscal year 2023-24.
SBP for adoption of Digital Supply Chain Finance solutions by banks
The State Bank of Pakistan instructed banks to develop and implement digital solutions for supply chain finance within six months to leverage the technology for increasing the SMEs’ access to finance and digitizing retail payments.
Henan Ruzhou Ideal and KASB Corporation sign MoU to build potato starch plant in Pakistan
Henan Ruzhou Ideal Starch and KASB Corporation of Pakistan, signed a Memorandum of Understanding (MoU) to construct a state-of-the-art potato starch plant in Pakistan.