KARACHI, August 20, 2024 – The Federal Board of Revenue (FBR) has announced updated tax rates on dividend income for the tax year 2024-25, as per the amendments made to the Income Tax Ordinance, 2001, updated on June 30, 2024.
(more…)Author: Shahnawaz Akhter
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OGDCL Unveils Major Gas Discovery at Razgir-1 Well in KPK
Karachi, August 19, 2024 – In a significant development for Pakistan’s energy sector, Oil and Gas Development Company Limited (OGDCL) announced the discovery of gas from the Razgir-1 Exploratory Well located in the Kohat district of Khyber Pakhtunkhwa.
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Pakistan Stocks Drop 215 Points Amid Volatile Trading Session
Karachi, August 19, 2024 – Pakistan stock experienced a volatile trading session on Monday, with the benchmark KSE-100 index closing down by 215 points. The index ended the day at 77,830 points, a decline from last Friday’s close of 78,045 points.
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Pakistan’s Current Account Deficit Shrinks by 78% in July
Karachi, August 19, 2024 – Pakistan witnessed a sharp 78% reduction in its current account deficit for July 2024, driven by robust export performance and a surge in remittances. The State Bank of Pakistan (SBP) reported on Monday that the deficit for the month stood at $162 million, a significant improvement from the $741 million recorded in July 2023.
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KTBA Highlights Ambiguities in Income Tax on Sales
Karachi, August 19, 2024 – The Karachi Tax Bar Association (KTBA) has raised concerns over ambiguities in the income tax collection mechanism for sales within the supply chain, as stipulated under the Finance Act, 2024.
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KCCI Urges Immediate Relief in Electricity Bills for Sindh
Karachi, August 19, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has called on the federal and Sindh governments to urgently address the rising electricity costs that are burdening the residents and business community of Sindh.
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FBR Announces Updated Super Tax Structure for Tax Year 2024-25
Karachi, August 18, 2024 – The Federal Board of Revenue (FBR) has unveiled the latest position on the super tax applicable for the tax year 2024-25, in accordance with the Income Tax Ordinance, 2001, updated up to June 30, 2024.
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Rupee Unlikely to See Fluctuation Against Dollar Next Week
Karachi, August 18, 2024 – The Pakistani rupee is expected to maintain its stability against the US dollar in the coming week, buoyed by ample foreign exchange reserves and positive economic trends, according to analysts and currency dealers.
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KATI Lambasts Proposals of Further Hike in Electricity Tariff
Karachi, August 17, 2024 – The Korangi Association of Trade and Industry (KATI) on Saturday strongly criticized the proposal for a further hike in electricity tariffs at a time when businesses are already struggling under the weight of inflated electricity bills.
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KCCI Urges FBR to Defer Tax Scheme for Small Traders
Karachi, August 17, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has called on the Federal Board of Revenue (FBR) to defer the implementation of the Tajir Dost Scheme, a tax initiative aimed at small traders.
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