Tag: Khyber Pakhtunkhwa

Major of Pakistani Army killed in gunfight with terrorists in Khyber

July 11, 2023

RAWALPINDI: A Pakistan Army officer was killed in action while participating in an intelligence-based operation (IBO) in the Shakhas neighbourhood ...

Pakistan’s northwest is shaken by earthquake of 4.6 magnitude

July 3, 2023

PESHAWAR: On Monday, a 4.6-magnitude earthquake struck Peshawar, the capital of Khyber Pakhtunkhwa, and nearby districts. The epicentre of the ...

Met Office predicts Pakistan will see pre-monsoon rains till June 30

June 27, 2023

KARACHI: Pre-monsoon rains and dust storms are forecast to persist in various parts of the nation through June 30, according ...

ISLAMABAD: The World Bank has asked Pakistan to equalize the tax thresholds of salaried and non-salaried classes to make personal income tax progressive and bring agricultural income and property into the tax net. The World Bank estimates that taxes on agricultural income and property, if properly implemented, can generate close to three percent of GDP on an annual basis and more than 30 trillion rupees annually. The World Bank is also expecting $350 million for Pakistan from Rise Two, but the date of the Executive Board meeting to approve it is yet to be confirmed. The tax threshold for the top salaried class is Rs 6 lakh per annum and above this the tax is levied on the salary, while for the non-salaried class the income threshold is Rs 4 lakh per annum. World Bank's Chief Economist in Pakistan, Tobias Haque, while talking to a few selected journalists, said on Monday, "We are recommending taxing the rich and protecting the poor while protecting the poor." were also present. He said that the World Bank is certainly not recommending a reduction in the current minimum threshold, we are recommending that Pakistan should simplify its income tax structure and set up a single tax system for the salaried and non-salaried classes and promote progressivism. Make sure. A previous analysis of public expenditure revision data for 2019 suggests that a reformed income tax structure could include a minimum exemption limit for the salaried class, but this analysis is based on recent inflation and labor market developments. The changes should also be taken into account so that the lower income groups are not affected. The recommendations in Pakistan's development update are clear, however, when asked if the World Bank is recommending a single income tax structure for salaried and non-salaried individuals, he said yes.

Order to pay salaries to government employees tomorrow

June 22, 2023

PESHAWAR: The Khyber Pakhtunkhwa government has ordered the release of salaries to all government employees of the province on June ...

Constitutional Crisis Looms in Pakistan: The Impending Presidential Tenure Challenge

June 21, 2023

Pakistan finds itself on the brink of a constitutional crisis as the tenure of the current President nears its end ...

462 billion budget approved for four months of Khyber Pakhtunkhwa

June 20, 2023

Peshawar: The caretaker cabinet of Khyber Pakhtunkhwa has approved a budget of 462 billion for four months, an increase in ...

Poliovirus found in environmental samples of KP

June 18, 2023

The Coordinator Emergency Operation Centre (ECO) announced in a statement on Sunday that poliovirus has been found in environmental samples ...

$200 million approved by World Bank for Pakistan’s post-flood rehabilitation

June 14, 2023

WASHINGTON: Khyber Pakhtunkhwa, in Pakistan's northwest, will benefit from investments for post-flood rehabilitation and reconstruction thanks to $200 million in ...