Karachi, December 8, 2024 – The Federal Board of Revenue (FBR) has issued directives to Pakistan Stock Exchange (PSX) investors, requiring them to maintain detailed records of their securities transactions and accounts. This initiative by the FBR is in line with the Income Tax Rules, 2001, and aims to enhance transparency and compliance within the stock market.
(more…)Author: Shahnawaz Akhter
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FBR Restricts Entertainment Expenditures for Tax Adjustments
Karachi, December 8, 2024 – The Federal Board of Revenue (FBR) has imposed stricter limitations on entertainment expenditures eligible for deduction against income tax liability, as outlined in the Income Tax Rules, 2002.
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Aurangzeb Anticipates Record High Remittances in FY25
Karachi, December 7, 2024 – Finance Minister Muhammad Aurangzeb announced on Saturday that workers’ remittances are projected to hit an all-time high of $35 billion in the fiscal year 2024-25, up from the $30.25 billion recorded in FY24.
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Analysts Bet on 200 Basis Points Cut in Benchmark Policy Rate
Analysts at Arif Habib Limited are forecasting a 200 basis points (bps) reduction in the benchmark policy rate in the upcoming monetary policy meeting (MPC) set for December 16, 2024. This would mark the last policy announcement of the year by the State Bank of Pakistan (SBP). If this anticipated cut occurs, it would bring the policy rate to 13%, a level not seen since July 2022, when the rate was at 13.75%.
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Dream Rally – KSE-100 Gains 14,480 Points in 8 Straight Sessions
The Pakistan Stock Exchange (PSX) has experienced an extraordinary rally, with the benchmark KSE-100 index gaining 14,480 points, equivalent to a remarkable 15.31%, over eight consecutive trading sessions. This record-breaking surge has made global headlines, placing PSX among the world’s best-performing markets based on USD returns.
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Tax Treatment of Bonus Shares for Tax Year 2025
Karachi, December 7, 2024 – The Federal Board of Revenue (FBR) has issued a detailed explanation of the tax treatment applicable to bonus shares issued by companies during the tax year 2025, as per Section 236Z of the Income Tax Ordinance, 2001.
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PSW Partners with Alibaba to Develop e-Commerce Module
Karachi, December 7, 2024 – Pakistan Single Window (PSW), in collaboration with Alibaba, one of the world’s leading e-commerce platforms, is working on an innovative e-commerce module aimed at enhancing the clearance process for cross-border trade.
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FBR Instructs CCIRs to Facilitate Overseas Pakistanis in One Day
Karachi, December 6, 2024 – The Federal Board of Revenue (FBR) has issued instructions to Chief Commissioners of Inland Revenue (CCIRs) to expedite property transactions for overseas Pakistanis, ensuring that the verification and approval process is completed within a single business day.
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KSE-100 Surges for 8th Straight Session, Crosses 109K Points
Karachi, December 6, 2024 – The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) sustained its bullish momentum for the eighth consecutive session on Friday, achieving a historic high of 109,054 points. This remarkable rally underscores investor confidence bolstered by improving economic indicators and favorable developments on the political and financial fronts.
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Cybercrimes Impacting Pakistan’s Digital Economy: FPCCI
Karachi, December 6, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday raised concerns over the growing menace of cybercrimes, warning that such activities are adversely affecting Pakistan’s digital economy.
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