Sellers will now be required to pay 2.75 per cent of the total transaction amount as advance tax
Following the approval of the budget, the Speaker adjourned the National Assembly session until 11:00 a.m. the following day.
Silver prices also followed the downward trend
Representing compliant Tier-1 retail businesses, CAP stated that it supports efforts to formalise the economy and expand the tax base.
According to the data, there is a 25 percent tax on phones costing up to $30. 36% tax is levied on phones priced between $31 and $100.
The spike in demand has caused the value of the Iranian rial to rise by nearly 100 per cent in the open currency market
The latest adjustment comes a day after the government announced major reductions in the prices of petroleum products
It may be recalled that yesterday, the government had reduced the price of petrol by Rs 74.28 per liter and set the new price at Rs 299.50.
PM announced major reduction in fuel prices.
The budget also includes a proposal to increase the minimum monthly wage by Rs5,000, raising it to Rs45,000
The trend is being witnessed on hopes of high gains.
In the international market, gold prices fell by $149 to settle at $4,156 per ounce
He added that Pakistan had also worked alongside Gulf countries to promote diplomatic solutions and reduce tensions in the region.
Earnings from platforms such as YouTube will be subject to withholding tax once foreign remittances are transferred to Pakistani bank accounts
Prime Minister Shehbaz Sharif has directed the Petroleum Minister to reverse the impact of the March 7 price increase
Chief Minister Sohail Afridi had initially preferred presenting a three-month budget over being denied a meeting with the party’s founder Imran Khan
Silver prices declined by Rs6 per tola
816 development schemes with a total estimated cost of Rs644.3 billion are currently under way in the metropolis
The minimum monthly wage from Rs40,000 to Rs43,000
However, subsequent Israeli and US military strikes on Iran caused the currency’s value to plunge, with 10 million rials trading between Rs2,000 and Rs3,000 just days ago.
Inflation is projected to remain around 8.2 percent in the next fiscal year
Meanwhile, losses linked to shortfalls in bill recoveries stood at Rs57 billion during the reporting period.
He stated that the Sindh government is working towards a vision of developing a modern and efficient public transport system, building on the success of the Peoples Bus Service.
The deal will be officially signed in Geneva.
Chief Minister Maryam Nawaz Sharif, along with provincial ministers and MPAs, attended the budget session
Gold prices rose by $108 per ounce to $4,327 globally
Silver prices also registered an increase
Presenting the budget, Finance Minister Muhammad Aurangzeb announced that PKR 10 billion has been allocated for Karachi’s K-IV Water Supply Project.
