From July 1, 2022, the banks will pay 45 percent of their profit as corporate/income tax to the Federal Board of Revenue. At present, the banks are paying 39 percent tax on their profits.
Author: Javed Mahmood
Javed Mahmood
I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.
It’s a pro-IMF budget where the only target is to get loans and focus on their repayments. Only relaxation is given to the salary class as the inflation is sky rocketing.
Anger has enraged the Islamic world since last week when a spokeswoman for Prime Minister Narendra Modi’s party made offensive remarks about the Holy Prophet (PBUH) during a TV show.
Finance Minister began by cautioning that the country was going through an unprecedented period, which he described as “very difficult”.
ISLAMABAD: The federal cabinet today approved 9.502 trillion rupees new budget for the fiscal year 2022-23. The tax collection target…
Esther Perez, IMF’s Resident Representative, has emphasized the need for equitable treatment of all power sector stakeholders due to the limited fiscal space.
The budget deficit is expected to be Rs 4,282 billion while Rs 4,215 billion will be transferred from the federation to the provinces
ISLAMABAD: A day before the announcement of new budget for the fiscal year 2022-23, the coalition government highlighted the performance…