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Cabinet Approves Higher Tax on Bank Profits Exceeding Rs. 70 Billion


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Cabinet Approves Higher Tax on Bank Profits Exceeding Rs. 70 Billion
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12-30-2024, 12:51 PM
Cabinet Approves Higher Tax on Bank Profits Exceeding Rs. 70 Billion

Islamabad, Pakistan: The federal cabinet, led by Prime Minister Shehbaz Sharif, has approved new measures to increase revenue by taxing additional profits of Rs. 70 billion or more earned by banks. The decision was formalized on Friday through the approval of two Presidential Ordinances. Income Tax Ordinance for Banks Under the newly approved Income Tax […]


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