Islamabad, October 1, 2024 – In a mixed financial performance for the start of the fiscal year, the Federal Board of Revenue (FBR) managed to surpass its revenue collection target for September 2024, but fell short of the ambitious tax collection target for the first quarter (July-September) of the fiscal year 2024-25. This outcome highlights the ongoing challenges in tax mobilization, despite various revenue-generating measures introduced earlier this year.
(more…)Author: Mrs. Anjum Shahnawaz
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FBR Declines to Extend Deadline for 2024 Tax Returns Filing
Islamabad, September 30, 2024 – In a move that has disappointed millions of taxpayers across the country, the Federal Board of Revenue (FBR) on Monday confirmed that it will not be extending the deadline for the submission of income tax returns for the tax year 2024.
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Pakistan Slashes Petroleum Prices for October’s First Fortnight
Islamabad, September 30, 2024 – In a welcome development for consumers, Pakistan’s federal government announced a significant reduction in petroleum prices for the first half of October 2024.
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FBR Unveils Single Sales Tax Return for Key Sectors in Groundbreaking Demonstration
Islamabad, September 30, 2024 – In a significant stride towards simplifying Pakistan’s tax compliance regime, the Federal Board of Revenue (FBR) on Monday showcased the much-anticipated Single Sales Tax Return (SSTR) for three pivotal sectors of the economy.
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Pakistan Braces for Searing Heat and Dry Spell in Next 48 Hours
Islamabad, September 30, 2024 – The Pakistan Meteorological Department (PMD) has issued a warning of an intense hot and dry weather pattern set to grip most regions of the country over the next 48 hours. Citizens are urged to brace themselves as temperatures soar, with the heatwave expected to peak on Tuesday, October 1, 2024.
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Today Petroleum Prices in Pakistan – September 30, 2024
Karachi, September 30, 2024 – As of today, the petroleum prices in Pakistan remain as follows: Petrol at Rs 249.10 per liter, High-Speed Diesel (HSD) at Rs 249.69 per liter, Kerosene at Rs 158.47 per liter, and Light Diesel Oil (LDO) at Rs 141.93 per liter.
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RCCI Appeals to FBR for One-Month Extension in Tax Return Filing Deadline
Islamabad, September 29, 2024 – The Rawalpindi Chamber of Commerce and Industry (RCCI) has called on the Federal Board of Revenue (FBR) to extend the deadline for filing tax returns by one month, citing several logistical challenges and technical issues that have hindered taxpayers from completing their submissions on time.
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Pakistan’s Economy Demands Radical Overhaul: Aurangzeb
Islamabad, September 29, 2024 – Pakistan’s Finance Minister, Muhammad Aurangzeb, emphasized on Sunday that the nation’s economy requires profound structural reforms to ensure the newly negotiated International Monetary Fund (IMF) agreement becomes Pakistan’s final reliance on external financial assistance.
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PMD Predicts Thunderstorms in KP on September 30
Islamabad, September 29, 2024 – The Pakistan Meteorological Department (PMD) has forecast a chance of thunderstorms in parts of Khyber Pakhtunkhwa (KP) on Monday, September 30, 2024. According to the weather advisory issued by the PMD, most of the country will experience hot and dry conditions, but upper areas of KP could see isolated thunderstorms accompanied by rain and winds.
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IMF Projects Pakistan’s Economic Growth at 3.2% for 2024-25
Islamabad – The International Monetary Fund (IMF) has projected Pakistan’s economic growth to reach 3.2% for the fiscal year 2024-25, marking an improvement from the 2.4% growth achieved in the previous fiscal year. This optimistic forecast comes as part of the IMF’s latest assessment following the approval of a $7 billion Extended Fund Facility (EFF) programme aimed at stabilizing Pakistan’s fragile economy.
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