Islamabad, May 13, 2025 — The government of Pakistan is considering a significant tax reform by planning to abolish the 18% sales tax on locally produced cotton in the upcoming federal budget for 2025-26.
(more…)Author: Shahnawaz Akhter
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Pakistan’s total debt climbs 13% to Rs73.69 trillion by March 2025
Karachi, May 13, 2025 — Pakistan’s debt burden continues to grow, as the country’s total central government debt rose by 13% year-on-year, reaching Rs73.69 trillion by the end of March 2025.
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FTO directs FBR to resolve long-standing electricity duty issue
Islamabad, May 12, 2025 – In a significant move aimed at safeguarding consumers from excessive taxation, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to constitute a joint committee to re-evaluate the entire regime of electricity duty and taxes calculated thereon.
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Pakistan to auction massive stock of seized Iranian diesel, petrol
Karachi, May 12, 2025 – The Collectorate of Customs (Enforcement), Gadani, of Pakistan Customs has announced a large-scale public auction of seized Iranian petroleum products, including high-speed diesel (HSD) and petrol, to be held on May 15, 2025, at Gadani.
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PSX hits single-day highest-ever gain on ceasefire jubilation
Karachi, May 12, 2025 – The Pakistan Stock Exchange (PSX) witnessed its highest-ever single-day gain on Monday, surging by a massive 10,123 points as investor sentiment soared following the announcement of a ceasefire between Pakistan and India, along with the disbursement of funds from the International Monetary Fund (IMF).
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KTBA urges government to abolish tax on NPOs surplus funds
Karachi, May 12, 2025 – The Karachi Tax Bar Association (KTBA) has called on the government to abolish the tax on surplus funds of Non-Profit Organizations (NPOs) in the upcoming federal budget for 2025–26.
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Morning trade: Rupee gains sharply against dollar amid ceasefire
Karachi, May 12, 2025 – The Pakistani rupee posted a notable recovery on Monday morning, appreciating by 31 paisas against the US dollar in the interbank market.
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PSX soars 8.84% at day break amid ceasefire euphoria
Karachi, May 12, 2025 – The Pakistan Stock Exchange (PSX) witnessed a historic surge on Monday morning, driven by jubilant investor sentiment following the announcement of a ceasefire agreement between Pakistan and India.
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OICCI proposes POS integration at airlines and travel agencies
Karachi, May 12, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended that the Federal Board of Revenue (FBR) install Point-of-Sale (POS) systems at all airlines and travel agencies in Pakistan, as part of its proposals for the upcoming 2025-26 federal budget.
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Pakistan may introduce capital value tax for crypto assets
Karachi, May 11, 2025 – Pakistan is likely to introduce a Capital Value Tax (CVT) on crypto assets held by resident citizens, as the government moves toward formalizing regulation for digital currencies.
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