Karachi, February 27, 2025 – The State Bank of Pakistan (SBP) has imposed a monetary penalty of over Rs 222 million on Bank Alfalah, as per a report released on Thursday.
(more…)Author: Shahnawaz Akhter
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RTO-I Karachi Seals Medical Store in Clifton for POS Violation
Karachi, February 26, 2025 – In a decisive move against businesses failing to adhere to federal tax regulations, RTO-I Karachi has sealed a prominent medical store located in the upscale Clifton area.
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Pakistan Customs Issues Fresh Valuation for Ceramic Tiles
Karachi, February 26, 2025 – Pakistan Customs has issued a new valuation ruling for ceramic and porcelain tiles to determine the applicable duties and taxes on imported consignments.
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KSE-100 Index Sheds 666 Points in Volatile Session
Karachi, February 26, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) experienced a turbulent trading session on Wednesday, shedding 666 points as investors engaged in profit booking following recent gains. The KSE-100 index closed at 113,862 points, down from the previous day’s closing level of 114,528 points.
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FPCCI Submits Key Sales Tax Proposals for Budget 2025-26
Karachi, February 26, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has formally presented key sales tax proposals for the upcoming Budget 2025-26.
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UBL Engages in Legal Tax Dispute with FBR
Karachi, February 26, 2025 – United Bank Limited (UBL) has disclosed an ongoing legal dispute with the Federal Board of Revenue (FBR) over tax-related matters.
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PTBA Highlights Taxpayer Hardships in Complying Tax Statutes
Karachi, February 25, 2025 – The Pakistan Tax Bar Association (PTBA) has raised concerns regarding the difficulties taxpayers face in complying with various tax statutes.
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FBR Introduces Automated System for Unregistered Supplies
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has taken a significant step towards improving tax compliance by developing an automated system for handling adjustments of unregistered supplies through credit notes.
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FBR Penalizes IRS BS-20 Officer, Stops Promotion for Two Years
Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has taken disciplinary action against a senior Inland Revenue Service (IRS) officer, imposing a penalty and halting his promotion for two years due to charges of misconduct and inefficiency.
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Pakistan Spends $135 Million on Indian Imports
Karachi, February 25, 2025 – Pakistan has paid a total of $135 million for imports from India during the first seven months (July–January) of the fiscal year 2024-25.
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