Karachi, March 6, 2025 – A group of banks in Pakistan is preparing to approach the Supreme Court to challenge the recent Sindh High Court decision regarding the windfall tax imposed on foreign exchange income.
(more…)Author: Shahnawaz Akhter
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Najeeb Memon Appointed as Official Spokesperson of FBR
Islamabad, March 5, 2025 – The Federal Board of Revenue (FBR) has officially designated Najeeb Ahmad Memon as its spokesperson, reinforcing its commitment to transparent communication and effective policy dissemination.
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KTBA Calls for Immediate Appointment of Refund Commissioner
Karachi, March 5, 2025 – The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to take immediate action by appointing a Commissioner Inland Revenue at Zone-II, Corporate Tax Office (CTO), Karachi, to facilitate the efficient processing and timely issuance of refunds.
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FPCCI Urges Massive Rate Cut Amid Record Low Inflation
Karachi, March 5, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly called for a substantial reduction of 500 basis points in the benchmark policy rate, citing the lowest inflation levels recorded in nearly a decade.
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SCB Pakistan Pays Rs59Bn Income Tax at 54.2% Corporate Rate
Karachi, March 5, 2025 – Standard Chartered Bank (SCB) Pakistan Limited announced on Wednesday that it paid Rs 59 billion in income tax for the calendar year 2024, reflecting a corporate tax rate of 54.2%.
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Silkbank Faces Uncertainty as Auditors Raise Red Flags
Grant Thornton Anjum Rahman, a reputable firm of Chartered Accountants, has raised significant concerns regarding the financial viability of Silkbank Limited.
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UNISAME Calls for Resolution of Net Metering Tax Dispute
Karachi, March 4, 2025 – The Union of Small and Medium Enterprises (UNISAME) has urged the government to resolve the ongoing sales tax disputes related to net metering, which are adversely affecting small and medium enterprises (SMEs) investing in solar energy.
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KCCI Elections Annulled by DGTO, Fresh Polls Ordered
Karachi, March 4, 2025 – The Directorate General of Trade Organizations (DGTO) has declared the elections of the Karachi Chamber of Commerce and Industry (KCCI) for the term 2024-26 as null and void due to serious legal objections raised by a complainant.
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FBR Forms Monitoring Committee to Oversee ICTE
Islamabad, March 4, 2025 – The Federal Board of Revenue (FBR) has officially constituted a monitoring committee to supervise the establishment and operations of the International Center for Tax Excellence (ICTE).
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Gatron Challenges Supreme Court Ruling in Tax Credit Case
Karachi, March 4, 2025 – Gatron (Industries) Limited has filed a review petition against the recent Supreme Court of Pakistan ruling in the tax credit case, aiming to secure its claim over investment-related tax benefits.
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