Karachi, September 18, 2024 – In a significant development, the Federal Board of Revenue (FBR) has unveiled comprehensive amendments to the rules governing the Active Taxpayers List (ATL).
(more…)Author: Shahnawaz Akhter
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Banking Sector Grows 11.5% in H1CY24: SBP Report
Karachi, September 18, 2024 – The State Bank of Pakistan (SBP) reported on Wednesday that the country’s banking sector experienced a robust growth of 11.5% during the first half of the calendar year 2024 (H1CY24). In its mid-year performance review, covering the period from January to June 2024, the SBP attributed this growth primarily to an expansion in the banking sector’s asset base, driven by a surge in investments.
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Bulls Take Control as KSE-100 Index Surges 970 Points
Karachi, September 18, 2024 – The Pakistan Stock Exchange (PSX) experienced a strong bullish rally on Wednesday, with the benchmark KSE-100 index surging by 970 points. The index closed at 80,461 points, significantly higher than the previous closing of 79,491 points on September 16, 2024.
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Pakistan’s Current Account Deficit Contracts by 81% in 2MFY25
Karachi, September 18, 2024 – Pakistan’s current account deficit witnessed a sharp contraction of 81% during the first two months (July–August) of the current fiscal year 2024-25, according to a report released by the State Bank of Pakistan (SBP) on Wednesday. The deficit fell to $171 million, compared to $893 million in the corresponding period of the previous fiscal year.
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FBR Explains Duration of Tax Year in Pakistan
Karachi, September 18, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the duration of the tax year in Pakistan as per the Income Tax Ordinance, 2001, updated until June 30, 2024.
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Pakistan Imports Cars Worth $48 Million in 2MFY25; Jumps 53%
Karachi, September 17, 2024 – Pakistan has witnessed a significant surge in car imports during the first two months of the fiscal year 2024-25, with total imports valued at $48 million.
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Pakistan’s Food Exports Surge by 42% in July – August FY25
KARACHI, September 17, 2024 – Pakistan’s food exports witnessed an extraordinary 42% growth during the first two months of fiscal year 2024-25, according to data released by the Pakistan Bureau of Statistics (PBS). Food group exports reached a remarkable $1.01 billion from July to August 2024, compared to $711 million in the same period last year.
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FBR Issues Withholding Tax Card for Property Sale in TY 2024-25
KARACHI, September 17, 2024 – The Federal Board of Revenue (FBR) has released the updated withholding tax card for property sales for the tax year 2024-25, bringing clarity to tax obligations associated with the sale of immovable properties.
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FBR Determines Fair Market Value for Tax Year 2024-25
KARACHI, September 17, 2024 – The Federal Board of Revenue (FBR) has officially announced the determination of fair market values for assets and properties under the Income Tax Ordinance, 2001, applicable for the tax year 2024-25.
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Pakistan’s Textile Exports Rise 5.37% in First Two Months of FY25
Karachi, September 16, 2024 – Pakistan’s textile exports have witnessed a significant growth of 5.37% during the first two months (July–August) of the current fiscal year 2024-25, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. The country’s textile exports reached $2.92 billion during this period, up from $2.77 billion in the corresponding months of the previous fiscal year.
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