Updates on Tax Laws, Economy and Stock Market in Pakistan
Income from salary means any income that is earned/received by a person against services rendered about his employment. The Salary Income Tax Rates 2024 are given in the First Schedule, Part I, Division I, clause (1A) of the Income Tax Ordinance 2001 What is Salary Salary income refers to any earnings received by an individual … Read more
The Pakistan Stock Market showed an overall improvement and the KSE-100 index concluded the week at 45,068, recording an increase of 861 points WoW. Market Summary for the Week 10th to 14th July 2023 Since the start of the current fiscal year, the Pakistan Stock Market has shown improvement. The main reasons behind this are … Read more
The Finance Act 2023 has been passed on the 26th of June 2023 with various changes and budgetary reforms including higher rates of tax, regulatory duties, and long-awaited reforms in the pension rules. Finance Act 2023 has been passed by the National Assembly and approved by the President on 26th of June 2023 with certain … Read more
The Pakistan Stock Exchange performance improved in the current week as the KSE 100 index witnessed a gain of 1388 points in two days i.e. 26th and 27th of June 23 Due to public holidays on account of Eid ul Azha w.e.f 28th of June 2023, there were only two working days in the week … Read more
Weekly report on the Sensitive Price Indicator and Prices of Essential Commodities by the Pakistan Bureau of Statistics The Sensitive Price Indicator (SPI) based on prices of essential commodities in Pakistan increased by 0.2% during the week ended on 15th of June 2023 The Pakistan Bureau of Statistics (PBS) publishes a weekly report on the … Read more
Federal Budget for FY 2023-24 has been announced by the Government on the 9th of June 2023 (Friday). Due to the prevailing economic condition of the country and the delayed finalization of the IMF program, coupled with the political situation of the country, the budget was considered to be a difficult one. However, a mid-way … Read more
The Reforms and Revenue Mobilization Commission (RRMC) has proposed an advance tax on the accumulated profits and reserves of the companies in Pakistan in the coming budget for the fiscal year 2023-24. The Federal Budget for the year 2023-24 is to be announced on the 9th of June 2023. The imposition of the advance … Read more