President Approves Tax Laws (Amendment) Bill 2024

President Asif Ali Zardari on Friday approved the Tax Laws (Amendment) Bill 2024 under Article 75 of the Constitution

President Asif Ali Zardari approved the Tax Laws (Amendment) Bill 2024 on Friday under Article 75 of the Constitution. The bill’s objective is to amend laws related to taxes and duties, as stated in a news release from the President House.

The amendments included in the bill entail changes to sections 30DDD, 43, 45B, 46, and 47 of the Sales Tax Act 1990. Similarly, amendments to sections 29, 33, 34, and 38 of the Federal Excise Act 2005, and sections 122A, 124, 126A, 130, 131, 132, 133, and 134A of the Income Tax Ordinance 2001 have been made through this bill.

The Tax Laws (Amendment) Bill 2024 received passage in the National Assembly on April 29, 2024. The president’s approval of the bill was based on the prime minister’s advice.