Karachi, February 22, 2025 – The State Bank of Pakistan (SBP) has officially released the criteria for participation in Raast, the country’s instant payment system designed to facilitate secure and efficient digital fund transfers.
(more…)Author: Shahnawaz Akhter
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PTBA Urges CJP to Implement Video Link Facility for Tax Cases
Karachi, February 22, 2025 – The Pakistan Tax Bar Association (PTBA) has formally appealed to the Chief Justice of Pakistan, Justice Yahya Afridi, to introduce a video link conference facility at all high courts to facilitate taxpayers in tax-related legal proceedings.
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Banks Pay Rs 25 Billion Windfall Tax After Petition Dismissal
Islamabad – Banks have collectively remitted Rs 25 billion in windfall tax to the Federal Board of Revenue (FBR) following the dismissal of their petition by the Sindh High Court (SHC), official sources disclosed on Friday.
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PSX Declines 938 Points Amid Weekend Profit-Taking
Karachi, February 21, 2025 – The Pakistan Stock Exchange (PSX) experienced a significant downturn on Friday, with the benchmark KSE-100 index losing 938 points, or 0.82%, as investors opted for profit-taking ahead of the weekend.
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Pakistan Customs Revises Valuation for Multimedia Projectors
Karachi, February 21, 2025 – Pakistan Customs has announced revised valuation for imported multimedia projectors to ensure fair assessment of duties and taxes.
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SCBPL 2024 Earnings: Rs 46B Profit, Rs 54.5B Tax Paid
Karachi, February 21, 2025 – Standard Chartered Bank (Pakistan) Limited (SCBPL) has reported a remarkable annual profit after tax of Rs 46.06 billion for the financial year ending December 31, 2024, despite a substantial tax payment amounting to Rs 54.55 billion.
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Weekly Inflation Surges Ahead of Ramadan, Sugar Hits Rs 155/kg
Islamabad, February 21, 2025 – Inflation continues to rise sharply ahead of the holy month of Ramadan, with sugar prices reaching Rs 155.27 per kilogram. The latest figures from the Pakistan Bureau of Statistics (PBS) show that the Sensitive Price Indicator (SPI) recorded a 0.27% increase for the week ending February 20, 2025, compared to the previous week.
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Property Tax Collection Rises to Rs 130B Amid Policy Changes
Islamabad, February 21, 2025 – Pakistan’s tax collection from property transactions has surged to Rs 130 billion during the first seven months (July–January) of the fiscal year 2024-25, according to sources within the Federal Board of Revenue (FBR).
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Foreign Banks Withdraw $165 Million from Pakistan
Karachi, February 21, 2025 – Foreign banks operating in Pakistan have repatriated a substantial amount of $165 million in profits and dividends during the first seven months (July–January) of the fiscal year 2024-25, according to a report released by the State Bank of Pakistan (SBP).
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FBR Misses Deadline for Notifying 2025 Income Tax Return Forms
Karachi, February 20, 2025 – The Federal Board of Revenue (FBR) has failed to meet the deadline for notifying the finalized FBR return forms for income tax year 2025, raising concerns among taxpayers and experts regarding compliance and regulatory adherence.
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