Karachi, July 16, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has reaffirmed its unwavering commitment to the nationwide shutter-down strike scheduled for Saturday, July 19, 2025.
(more…)Author: Shahnawaz Akhter
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Unpacking Section 37A: Fair Enforcement or Fear Tactic?
Section 37A of the Sales Tax Act, 1990 introduces robust mechanisms to tackle tax fraud through structured inquiries, investigations, and—when warranted—arrests. While some critics have expressed concern over the powers granted under this provision, a deeper analysis reveals that Section 37A is designed to act as a powerful deterrent against tax fraud rather than a tool to harass honest taxpayers.
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PTCL begins pension adjustment after Supreme Court defeat
Karachi, July 16, 2025 – Pakistan Telecommunication Company Limited (PTCL) has initiated the process of adjusting its financial records following a landmark Supreme Court decision that ruled against the company in a pension-related case filed by its retired employees.
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Bank deposits surge to record Rs35.50 trillion in Pakistan
Karachi, July 15, 2025 – In a dramatic turn for Pakistan’s financial sector, bank deposits have shattered all previous records, surging to an all-time high of Rs35.50 trillion by the close of June 2025.
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Govt sets up high-powered committee to avert July 19 strike
Islamabad, July 15, 2025 – In a decisive step to prevent a nationwide business shutdown, the federal government has formed a high-powered committee to address the grievances of traders and industrialists arising from Section 37A of the Finance Act 2025.
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FBR empowers provincial officials to seize illicit cigarettes
Islamabad, July 15, 2025 – The Federal Board of Revenue (FBR) has granted new powers to provincial authorities to help stop the illegal trade of cigarettes across Pakistan.
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Pakistan Customs sets export values for mangoes
Karachi, July 15, 2025 – Pakistan Customs has officially notified the export values for mangoes for the current season, setting a fresh benchmark for exporters and international buyers as the country’s premium fruit continues to gain popularity across global markets.
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Section 11E gives FBR big teeth in sales tax recovery
Karachi, July 15, 2025 – The Federal Board of Revenue (FBR) has been armed with unprecedented powers under the newly amended Section 11E of the Sales Tax Act, 1990 — a legislative shift that is set to dramatically reshape the landscape of tax enforcement in Pakistan.
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SITE Association endorses July 19 strike, slams tax laws
Karachi, July 14, 2025 – The SITE Association of Industry, Karachi, has thrown its weight behind the Karachi Chamber of Commerce’s call for a nationwide strike on July 19, in protest against controversial tax laws introduced through Sections 37A and 37B of the Finance Act, 2025.
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FBR opens 2025 return filing portal on July 15
ISLAMABAD, July 14, 2025 — The Federal Board of Revenue (FBR) has officially announced the opening of the return filing portal for the tax year 2025, starting Tuesday, July 15, 2025.
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