Islamabad, October 11, 2024 – The Federal Board of Revenue (FBR) is poised to release revised valuation tables for immovable properties across 42 major cities in Pakistan, a move expected to reshape the property market landscape and increase tax revenues from real estate transactions.
(more…)Author: Mrs. Anjum Shahnawaz
-
PM Shehbaz Announces Termination of Agreement with Five IPPs
Islamabad, October 10, 2024 – In a decisive move, Prime Minister Shehbaz Sharif on Thursday announced the termination of power purchase agreements with five Independent Power Producers (IPPs), a landmark decision aimed at alleviating the financial burden on the nation’s electricity consumers.
(more…) -
Pakistan Weather Forecast for October 11, 2024
Islamabad, October 10, 2024 — The Pakistan Meteorological Department (PMD) has issued its weather forecast for Friday, October 11, 2024, warning that the country is expected to experience predominantly hot and dry conditions.
(more…) -
No Further Deadline Extensions for Return Filing: FBR Chairman
Islamabad, October 10, 2024 — The Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, has unequivocally declared that there will be no further extension for the income tax return filing deadline for the tax year 2024.
(more…) -
Pakistan to Implement Agriculture Tax by July 2025: Aurangzeb
ISLAMABAD: Pakistan is set to introduce a long-anticipated tax on the agriculture sector, with legislation expected to be finalized by January 2025 and tax collection commencing on July 1, 2025, Finance Minister Muhammad Aurangzeb announced a day earlier.
(more…) -
Cabinet Approves ISMO Setup for Low-Cost Electricity
Islamabad, October 9, 2024 – In a transformative step towards revolutionizing Pakistan’s electricity market, the Cabinet Committee on Energy has officially approved the establishment of an Independent System and Market Operator (ISMO).
(more…) -
Pakistan Weather Outlook for October 10, 2024
Islamabad, October 9, 2024 – The Pakistan Meteorological Department (PMD) has released its weather forecast for Thursday, October 10, 2024, indicating a predominantly dry weather pattern across much of the country. However, residents in specific regions can expect isolated rain, wind, and thunderstorms, particularly in Gilgit-Baltistan and Upper Khyber Pakhtunkhwa.
(more…) -
LHC Rules Against Retrospective Application of Tax Hike
Lahore – The Lahore High Court (LHC) has declared that the enhanced rates of withholding tax on late filers of income tax returns, introduced by the Finance Act 2024, will not apply to transactions, returns, or assessments that were finalized before the enactment of the new law. This verdict represents a major development in tax legislation, providing clarity for taxpayers on the scope of the amendments.
(more…) -
Aurangzeb Says Rs190Bn Economic Loss from Single-Day Protest
Islamabad, October 8, 2024 – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced on Tuesday that a single-day nationwide protest could inflict a staggering Rs 190 billion loss to Pakistan’s economy.
(more…) -
NDMA Issues Early Storm Alert for Pakistan’s Coastal Regions
Islamabad, October 8, 2024 – The National Disaster Management Authority (NDMA) has issued an early warning regarding a developing low-pressure system in the Arabian Sea, which may potentially escalate into a tropical storm affecting Pakistan’s coastal areas later this month. The NDMA’s Emergencies Operation Centre (NEOC) sounded the alert on Tuesday, urging citizens and relevant authorities to stay vigilant as the situation unfolds.
(more…)