Karachi, April 9, 2025 — The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Wednesday, as the benchmark KSE-100 index slumped by 1,379 points or 1.19%, closing at 114,153.16.
(more…)Author: Shahnawaz Akhter
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Karachi Chamber Urges Fair Approach to FBR Account Freezing
Karachi, April 9, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has raised concerns regarding the Federal Board of Revenue (FBR) practices related to the freezing of bank accounts for the recovery of unpaid taxes.
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KSE-100 Tumbles Over 2,000 Points in Midday Trading
Karachi, April 9, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Wednesday as the benchmark KSE-100 index plunged over 2,000 points during mid-morning trade, reflecting heightened selling pressure across key sectors.
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KCCI Proposes Using Electricity Data to Broaden Tax Base
Karachi, April 9, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the government to adopt a data-driven strategy for tax broadening by utilizing electricity consumption records to identify potential taxpayers.
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Divago Outlet De-sealed After Tax Compliance
Karachi, April 8, 2025 – Divago, a prominent pharmacy retail chain in Pakistan, announced that one of its outlets, previously sealed by the Federal Board of Revenue (FBR), has now been de-sealed after the company addressed the required tax compliance issues.
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IR Inspector Removed from Service Over Unauthorized Absence
Karachi, April 8, 2025 – The Federal Board of Revenue (FBR) has imposed a major penalty of removal from service on Arshad Ali Nasir, an Inspector Inland Revenue (BS-16) posted at Regional Tax Office (RTO-I) Karachi, for his prolonged unauthorized absence from duty.
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KTBA Suggests Hybrid Refunds, Flags FIFO Method Flaws
Karachi, April 8, 2025 – The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to adopt a hybrid approach for the issuance of refunds, emphasizing the need to prioritize time-bound claims, verified applications, and sector-specific urgencies.
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FBR Links Sugar Sales Tax to Retail Price
Islamabad, April 8, 2025 — In a significant policy shift, the Federal Board of Revenue (FBR) has issued new criteria for the assessment of sales tax on sugar supplies across the country.
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NRL Discovers Significant Copper-Gold Deposit in Balochistan
Karachi, April 8, 2025 — Fatima Fertilizer Company Limited has announced a major milestone in Pakistan’s mining sector: a significant discovery of copper-gold mineralization in Balochistan by its joint venture, M/s. National Resources (Private) Limited (NRL).
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MTO Karachi Seals Divago Outlet for POS Non-Compliance
Karachi, April 8, 2025 – In a decisive move to enforce tax regulations, the Medium Tax Office (MTO Karachi) has sealed an outlet of Divago, a prominent pharmacy chain in Pakistan, due to its failure to integrate its Point of Sale (POS) system with the Federal Board of Revenue (FBR).
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