Karachi, January 25, 2025 – The Federal Board of Revenue (FBR) has officially deactivated the mandatory affidavit requirement for filing sales tax returns, a move aimed at simplifying compliance for businesses.
(more…)Author: Shahnawaz Akhter
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KCCI Urges SBP to Align Policy Rate With India and China
Karachi, January 25, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has called on the State Bank of Pakistan (SBP) to lower the benchmark policy rate to align with those of regional economic powerhouses like India and China.
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Investment in Registered Prize Bonds Rises to Rs 58.65 Billion
Karachi, January 25, 2025 – Investment in registered prize bonds has seen a remarkable surge, reaching Rs 58.65 billion by November 2024, according to the latest data released by the State Bank of Pakistan (SBP).
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FBR Unveils Procedure for Updating Sales Tax Registration Details
Karachi, January 25, 2025 – The Federal Board of Revenue (FBR) has announced a streamlined procedure for modifying sales tax registration details under Rule 7 of the Sales Tax Rules, 2006. Businesses can now easily update their registration information to ensure compliance and avoid any potential legal complications.
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Monetary Policy Statement to Steer PSX Trends Next Week
Karachi, January 25, 2025 – Investors at the Pakistan Stock Exchange (PSX) are eagerly anticipating the Monetary Policy Committee (MPC) meeting scheduled for January 27, 2025. This meeting, the first of the calendar year, is expected to set the tone for the PSX in the coming weeks.
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Massive Bank Withdrawals Amid Looming Tax Restrictions
In December 2024, Pakistan witnessed a staggering Rs 862 billion in bank withdrawals, highlighting a rising wave of uncertainty among account holders.
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OCAC Advocates Tax Exemption Removal on Petroleum Products
Karachi, January 24, 2025 – The Oil Companies Advisory Council (OCAC) has called for the removal of sales tax exemptions and the restoration of the zero-rated regime for petroleum products to address the growing challenges faced by Pakistan’s oil industry.
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KSE-100 Gains 843 Points in Rate Cut Anticipation
Karachi, January 24, 2025 – The Pakistan Stock Exchange (PSX) witnessed a robust trading session on Friday as the benchmark KSE-100 index surged by 843 points, fueled by investor optimism over a potential 100 basis points reduction in the benchmark interest rate. This speculation has driven increased market activity, signaling growing confidence among traders.
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New FBR Declaration Tightens Grip on Commercial Importers
Islamabad, January 24, 2025 – The Federal Board of Revenue (FBR) has intensified its oversight of commercial importers by introducing a new declaration requirement under the Sales Tax Laws, as part of its ongoing efforts to enhance tax compliance.
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FBR Grants Tax Exemption of Rs 57 Billion on Agriculture Income
Karachi, January 24, 2025 – The Federal Board of Revenue (FBR) has announced a significant tax exemption worth Rs 57.52 billion for agriculture income in the tax year 2023, according to an official report released by the Board.
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