ISLAMABAD: Pakistan’s President, Asif Ali Zardari, has given his approval to the Tax Laws (Amendment) Bill 2024, under Article 75 of the Constitution. The bill, aimed at amending taxes and duties-related laws, has been passed by the National Assembly on April 29, 2024.
This approval comes following amendments to various sections of the Sales Tax Act 1990, the Federal Excise Act 2005, and the Income Tax Ordinance 2001.
The amendments seek to bring changes to sections 30DDD, 43, 45B, 46, and 47 of the Sales Tax Act 1990, as well as sections 29, 33, 34, and 38 of the Federal Excise Act 2005.
Moreover, sections 122A, 124, 126A, 130, 131, 132, 133, and 134A of the Income Tax Ordinance 2001 have also been revised.
The Tax Laws (Amendment) Bill 2024 was passed by the National Assembly on April 29, 2024. The president approved the bill on the advice of the Prime Minister.
