Government makes wealth reveal mandatory for big financial transactions. In a major policy shift aimed at cracking down on tax evasion and expanding the tax net, the federal government has made it mandatory for individuals to file income tax returns and wealth statements to carry out large-scale financial transactions as part of the Budget 2025-26. […]
Day: June 10, 2025
Family pension capped at 10 years as reforms unveiled in Budget 2025-26
Family pension capped at 10 years as reforms unveiled in Budget 2025-26 in the federal budget for the 2025-26 fiscal year. During the budget speech, Federal Finance Minister Muhammad Aurangzeb stated that over the past few decades, changes were made to the pension scheme through executive orders, which increased the burden on the national exchequer. […]
Tax on solar panels increased to 18%
Tax on solar panels increased to 18%. The federal government has made a major proposal to promote domestically manufactured solar panels in the budget for the fiscal year 2025-26, under which it has been decided to impose an 18% sales tax on imported solar panels. According to the budget document, this move is being taken […]
Government proposes 21% increase in BISP budget
Government proposes a 21% increase in the BISP budget. The current government decided on Tuesday to further expand the Benazir Income Support Programme (BISP) in the budget for the forthcoming fiscal year. According to details, a proposal has been presented to increase the BISP budget by 21% for allocating Rs716billion for the programme. Also read: […]
Several killed in Austrian school shooting, police say
Several killed in Austrian school shooting. Austrian police responded Tuesday to a school shooting in Graz, the country’s second-largest city. Several people were seriously injured or killed, the Austrian public broadcaster ORF reported, citing the Interior Ministry. Police for the state of Steiermark, of which Graz is the capital, tweeted that shots had been heard […]