PkRevenue.com – The Pakistan Business Forum (PBF) has issued a warning that the business community is likely to face further depreciation of the local currency in the upcoming fiscal year.
(more…)Author: Mrs. Anjum Shahnawaz
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CPI Inflation Contracts to 29-Month Low at 11.8% in May 2024
PkRevenue.com – In a notable shift, the headline inflation based on the Consumer Price Index (CPI) has contracted to a 29-month low, reaching 11.8 percent in May 2024. This development, reported by the Pakistan Bureau of Statistics (PBS), signifies a substantial decrease from the 17.3 percent recorded in the previous month and an even more dramatic drop from the 38.0 percent observed in May 2023.
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Saudi Arabia Launches Action Against Unauthorized Hajj Pilgrims
PkRevenue.com – Saudi Arabia has initiated strict measures to curb unauthorized Hajj pilgrimages, imposing fines of up to Saudi Riyal (SAR) 10,000 and deportation for violators starting June 2, 2024.
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PMD Predicts Very Hot Weather for Plain Areas on June 3
PkRevenue.com – The Pakistan Meteorological Department (PMD) has issued a warning for extremely hot weather in the plain areas of the country on Monday, June 3, 2024.
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FBR Considers Complete Overhaul of Tax on Property Transactions
PkRevenue.com – The Federal Board of Revenue (FBR) is contemplating a comprehensive overhaul of the taxation system related to property transactions.
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FBR Declares NLC Sultanabad Karachi as Customs Port
PkRevenue.com – The Federal Board of Revenue (FBR) has officially designated the Off-Dock Terminal operated by the National Logistics Corporation (NLC) in Sultanabad, Karachi, as a customs port.
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FTO Recommends Simplification of Income Tax Returns
PkRevenue.com – The Federal Tax Ombudsman (FTO) has proposed that tax authorities streamline income tax returns to make it easier for taxpayers to fulfill their civic duties.
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PMD Forecasts Rain for Northern Balochistan on June 2
PkRevenue.com – The Pakistan Meteorological Department (PMD) has forecasted rain for northern Balochistan on Sunday, June 2, 2024. In its latest weather advisory, the PMD indicated that while most parts of the country will experience predominantly hot weather, some regions will face windstorms, gusty winds, and isolated rain-thunderstorms.
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Pakistan Slashes Petrol Price by Rs 4.74/Liter Starting June 1
PkRevenue.com – Pakistan has reduced the petrol price by Rs 4.74 per liter, effective June 1, 2024. The price of high-speed diesel (HSD) has also been cut by Rs 3.86 per liter, reflecting the recent downward trend in international petroleum product prices.
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Balochistan High Court Declares Section 7E as Unconstitutional
PkRevenue.com – In a significant ruling, the Balochistan High Court has declared Section 7E of the Income Tax Ordinance 2001, which imposed a tax on immovable properties based on deemed income, as ultra vires to the Constitution.
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