Karachi, January 30, 2025 – The Pakistan Stock Exchange (PSX) witnessed a notable surge on Thursday, posting a 1.54% or 1,717 points gain, driven by robust corporate earnings and improved investor sentiment.
(more…)Author: Shahnawaz Akhter
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New Conditions Make Sales Tax Return Filing Impossible: KCCI
Karachi, January 30, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has raised serious concerns over the newly introduced conditions by the Federal Board of Revenue (FBR), stating that these measures have made sales tax return filing nearly impossible for traders and small businesses.
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FBR Uncovers Rs 78 Bn Tax Evasion in Withholding of Salary Tax
Islamabad – The Federal Board of Revenue (FBR) has unearthed a colossal tax fraud amounting to Rs 78 billion in the collection and deposit of withholding tax on salary income.
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FBR Achieves 42.56% of Annual Tax Target in First Half of FY25
Islamabad, January 30, 2025 – The Federal Board of Revenue (FBR) has successfully collected 42.56% of its annual tax target during the first six months of the fiscal year 2024-25, marking a significant improvement in revenue generation.
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Lack of Market Triggers Drags KSE-100 Down by 543 Points
Karachi, January 29, 2025 – The Pakistan Stock Exchange (PSX) experienced a significant downturn on Wednesday as the benchmark KSE-100 index shed 543 points, primarily due to a lack of market-moving triggers and institutional selling pressure. The index closed at 111,487 points, retreating from the previous day’s close of 112,030 points, marking a decline of 0.48%.
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KTBA Calls for Fixing Anomaly in Sales Tax Return
The Karachi Tax Bar Association (KTBA) has raised an important issue with the Federal Board of Revenue (FBR) regarding a problem in the sales tax return process.
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FBR Updates Rules for Electronic Sales Tax Invoicing, Integration
Karachi, January 29, 2025 – In a move to streamline the tax system, the Federal Board of Revenue (FBR) has issued new procedures concerning the licensing, issuance of electronic sales tax invoices, and the integration of registered persons into the electronic invoicing system.
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FBR Outlines Digital Tax Audit System for Seamless Compliance
Karachi, January 29, 2025 – The Federal Board of Revenue (FBR) has formally explained the procedural framework for conducting electronic audits (e-audits) of taxpayers under the Sales Tax Act, 1990. This initiative aims to streamline the audit process, enhance transparency, and minimize physical interaction between taxpayers and tax authorities.
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FBR Collects IR Officials’ Data for Rightsizing Initiative
Karachi, January 28, 2025 – The Federal Board of Revenue (FBR) has initiated a comprehensive data collection process for officials serving in the Inland Revenue (IR) department. This move aims to compile and submit detailed records to the high-powered committee overseeing the rightsizing of the federal government.
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KSE-100 Sheds 1,490 Points Amid Weak Corporate Results
Karachi, January 28, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) faced a sharp decline on Tuesday, losing 1,490 points amid weaker-than-expected corporate results and persistent negative sentiment. The KSE-100 index closed at 112,030 points, significantly down from the previous day’s closing of 113,520 points.
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