|Provincial Budgets 2015 - Punjab & Sindh
This Memorandum summarises salient features of the provincial budgets and the Finance Bills
presented in the Provincial Assemblies of Punjab and Sindh. Under the Constitution, taxing
rights on rendering of services, taxes on immovable properties and agricultural income tax
inter alia lie with the provinces. All changes proposed through the Provincial Bills are effective
July 1, 2015, subject to approval by the Provincial Assemblies.
Download Provincial Budgets 2015 - Punjab & Sindh(200 kb)
Federal Budget 2015
This memorandum gives a brief overview of Pakistan economy and
significant amendments proposed by the Finance Bill 2015 relating to Income Tax,
Sales Tax, Federal Excise Duty and Customs Duty. All changes proposed through the
Finance Bill 2015 are effective July 1, 2015, except for changes proposed in the
First and Fifth Schedules to the Customs Act, 1969 which shall have effect from the
next day of assent given to the Finance Act by the President of the
Islamic Republic of Pakistan.
For considering the precise impact of a particular change, reference should be
made to the specific wordings in the relevant statute. The proposals introduced
are to be approved by the National Assembly and should not generally be acted
upon without obtaining appropriate advice. Our firm will issue a detailed
memorandum on Finance Act, 2015 once approved by the National Assembly.
Download Federal Budget 2015 (456 kb)