The Islamabad High Court (IHC) has issued a stay order against the Federal Board of Revenue (FBR) on its tax computation approach for banks, halting any further proceedings until the case is heard at a later date.
(more…)Author: Mrs. Anjum Shahnawaz
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PMD Forecasts Rain and Snowfall in Upper Pakistan on Nov 10
Islamabad, November 9, 2024 – The Pakistan Meteorological Department (PMD) has forecasted rain and snowfall in the upper regions of Pakistan for Sunday, November 10, 2024. According to the PMD, the day will primarily see dry weather across most of the country, but upper areas, particularly Gilgit-Baltistan and upper Khyber Pakhtunkhwa, can expect cloudy skies with light to moderate rain and light snowfall over high-altitude mountains during the evening and night.
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Aurangzeb Aims to Tax Real Estate, Retailers and Agriculture
Finance Minister Mohammad Aurangzeb has emphasized that it’s time to include the real estate, retail, and agriculture sectors in Pakistan’s tax system. He stated that the government could no longer rely solely on taxes from salaried workers and manufacturers, whose tax rates already reach up to 50%.
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PM Shehbaz Announces Lower Electricity Tariff for Winter Season
Prime Minister Shehbaz Sharif has introduced a three-month electricity relief package aimed at providing significant savings for consumers during the winter months.
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PMD Predicts Light Snowfall on Mountains on November 9, 2024
Islamabad, November 8, 2024 – The Pakistan Meteorological Department (PMD) has forecasted light snowfall over high mountainous areas for Saturday, November 9, 2024, marking a shift towards colder conditions in Pakistan’s northern regions.
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Pakistan Declares Public Holiday on November 9 for Iqbal Day Observance
The Government of Pakistan has officially declared November 9 as a public holiday nationwide in commemoration of Iqbal Day, honoring the 147th birth anniversary of the esteemed philosopher, poet, and visionary Allama Muhammad Iqbal.
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CDNS Lowers Profit Rates on Savings Certificates
Islamabad, November 7, 2024 – The Central Directorate of National Savings (CDNS) has implemented a downward revision of profit rates on various National Savings Certificates, effective November 4, 2024, marking a strategic shift in its financial offerings.
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IMF Delegation to Visit Pakistan for EFF Performance Review
The International Monetary Fund (IMF) will dispatch a mission to Islamabad from November 11 to 15 to address Pakistan’s fiscal challenges and explore potential corrective measures, including a possible mini-budget.
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FTO Reports 67% Surge in Taxpayer Complaints Against FBR
The Federal Tax Ombudsman (FTO) Secretariat has reported a dramatic 67% increase in taxpayer complaints filed against the Federal Board of Revenue (FBR) this year, reflecting rising dissatisfaction and a renewed commitment to transparency within Pakistan’s tax administration.
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NEPRA Reduces FCA for September 2024 Electricity Prices
The National Electric Power Regulatory Authority (NEPRA) has announced a reduction of Rs 1.28 per unit in electricity prices for September 2024 under the Fuel Charges Adjustment (FCA). This reduction, effective in November’s billing cycle, reflects adjustments based on global fuel price variations that impact monthly power bills.
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