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…)Author: Mrs. Anjum Shahnawaz
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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).
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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.
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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.
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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.
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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.
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Pakistan Weather Forecast for October 9, 2024
Islamabad, October 8, 2024 – The Pakistan Meteorological Department (PMD) has issued a weather forecast for Wednesday, October 9, 2024. According to the forecast, most parts of Pakistan are expected to experience mainly dry weather. However, regions of Kashmir and Gilgit-Baltistan may witness rain accompanied by wind and thunderstorms.
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Pakistan Weather Outlook – October 8, 2024
Islamabad, October 7, 2024: The Pakistan Meteorological Department (PMD) has released the weather forecast for Tuesday, October 8, 2024, predicting a mix of rain, windstorms, and dry conditions across various regions of the country. According to the PMD, several areas will experience rain and thunderstorms, with the possibility of heavy rainfall and hailstorms in specific locations.
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FTO Eases Taxpayer Burden with Free Tax Return Filing Service
Islamabad: The Federal Tax Ombudsman (FTO) has launched a major initiative to facilitate taxpayers in filing their annual income tax returns, offering free-of-cost services to the public. The newly established Facilitation Desk at the FTO headquarters has already seen a significant number of taxpayers, including individuals and salaried employees, taking advantage of the service.
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FTO Imposes Deadline on FBR for Property Valuation Revisions
ISLAMABAD: The Federal Tax Ombudsman (FTO) has set a strict deadline of October 11, 2024, for the Federal Board of Revenue (FBR) to complete the long-delayed revision of property valuations across Pakistan.
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