Karachi, August 3, 2024 – The Federal Board of Revenue (FBR) has broadened the reach of the capital value tax (CVT) to include residential houses and farmhouses starting from the tax year 2024-25.
(more…)Author: Shahnawaz Akhter
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PSX Outlook: Corporate Results Set to Influence Market Trajectory
Karachi, August 3, 2024 – The sentiments at Pakistan Stock Exchange (PSX) will heavily depend on corporate results during the next week starting August 5, 2024. Analysts at Arif Habib Limited forecast that the PSX would maintain a positive trajectory as certain scrips are anticipated to gain prominence amid expectations of robust results.
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Sindh CM Claims Supplying 50% Cheaper Electricity
Karachi, August 2, 2024 – The Chief Minister of Sindh, Syed Murad Ali Shah, on Friday claimed that the province could supply electricity generated from indigenous coal at 50% lower rates than current tariffs.
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FBR Chairman Administers Oath to New IRSOA Members
Islamabad, August 2, 2024 – Chairman Federal Board of Revenue (FBR) Malik Amjed Zubair Tiwana administered the oath to the newly elected office bearers of the Management Board of IRS Officers Association (IRSOA) on Friday.
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KSE-100 Index Surges 486 Points on Positive Sentiments
Karachi, August 2, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 486 points on Friday, buoyed by positive sentiments throughout the trading day.
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High Petroleum Prices Cut Sales 11% YoY in July 2024
Karachi, August 2, 2024 – High petroleum prices have significantly impacted the oil sector, reducing sales by 11% year-on-year (YoY) in July 2024, according to research analysts at Arif Habib Limited. Total petroleum sales for the month stood at 1.20 million tons, reflecting the challenging market conditions.
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Ripple XRP Price in USD and PKR on August 2, 2024
On August 2, 2024 the latest exchange rates of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported as:
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Finance Act 2024: FBR Elaborates CGT Regime on Securities
Karachi, August 2, 2024 – The Federal Board of Revenue (FBR) has clarified the changes to the capital gains tax (CGT) regime on securities as implemented through the Finance Act, 2024. The FBR issued Circular No. 1 of 2024-25 to detail these modifications, providing comprehensive insights into the updated tax structure.
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FBR Introduces Progressive Tax Rates for Property Transactions
Karachi, August 2, 2024 – The Federal Board of Revenue (FBR) has announced the introduction of progressive tax rates on the sale and purchase of immovable property, effective from July 1, 2024. This change, brought about through the Finance Act, 2024, aims to create a more equitable tax structure for property transactions.
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FBR Clamps Down on Full Tax Exemption Certificates
Karachi, August 2, 2024 – The Federal Board of Revenue (FBR) has announced new restrictions on Inland Revenue (IR) Commissioners, limiting their authority to issue 100% exemption certificates on payments made to non-residents. This significant change comes in the wake of the amendments introduced through the Finance Act, 2024.
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