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.
(more…)Author: Shahnawaz Akhter
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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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FBR Issues Rules for Azerbaijan-Pakistan Transit Trade
Karachi, December 6, 2024 – The Federal Board of Revenue (FBR) has officially notified rules to regulate Azerbaijan-Pakistan transit trade operations as per the recently signed Azerbaijan-Pakistan Transit Trade Agreement (PATTA) 2024.
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FBR Expands Single Sales Tax Return to Two New Sectors
Islamabad, December 6, 2024 – The Federal Board of Revenue (FBR) announced on Friday the expansion of its Single Sales Tax Return (SSTR) facility to include two additional sectors. This move is part of the FBR’s ongoing efforts to streamline tax compliance and simplify the filing process for taxpayers.
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FBR Sets Deadline for Corporate 2024 Return Filing
Karachi, December 6, 2024 – The Federal Board of Revenue (FBR) has announced December 31, 2024, as the final deadline for corporate entities to file their income tax returns for the tax year 2024. FBR officials have emphasized that this deadline will not be extended, urging companies to comply promptly to avoid penalties.
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FBR Updates Tax Rates on Property Purchase for TY 2025
Karachi, December 6, 2024 – The Federal Board of Revenue (FBR) has announced updated advance tax rates on the purchase and transfer of immovable property for the tax year 2025. These updates, implemented under the Finance Act, 2024, have been incorporated into the Income Tax Ordinance, 2001, and specifically explained under Section 236K of the ordinance.
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Saudi Arabia Rolls Over $3 Billion Deposits for Pakistan
Karachi, December 5, 2024 – The Saudi Fund for Development (SFD), acting on behalf of the Kingdom of Saudi Arabia, has extended the maturity of its $3 billion deposit with the State Bank of Pakistan (SBP) for another year.
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Advance Tax on Retailers, Distributors, Wholesalers Explained
Karachi, December 5, 2024 – The Federal Board of Revenue (FBR) has updated advance income tax rates for retailers, distributors, dealers, and wholesalers applicable for the tax year 2025. These tax rates are governed by Sections 236G and 236H of the Income Tax Ordinance, 2001, and aim to enhance tax compliance and streamline revenue collection.
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PSW Shares Upcoming Integrations for Swift Clearance
Karachi, December 5, 2024 – Pakistan Single Window (PSW) has announced a series of initiatives aimed at streamlining processes and integrating various organizations and stakeholders to ensure swift and efficient clearance for businesses. These efforts are designed to simplify the clearance procedures for the trade community by enhancing coordination between regulatory bodies, service providers, and other key players.
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KSE-100 Hits New High of Over 108K Points on Rate Cuts Hopes
Karachi, December 5, 2024 – The benchmark KSE-100 index of Pakistan Stocks (PSX) surged to a new record high on Thursday, surpassing the 108,000-point mark for the first time.
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