Karachi, November 8, 2024 – Officers from the Inland Revenue (IR) department have begun closely examining importers for discrepancies between the declared values at the Customs stage and the amount of duties and taxes paid.
(more…)Author: Shahnawaz Akhter
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Remittances into Pakistan Surge 35% during 4MFY25
Karachi, November 8, 2024 – Workers’ remittances into Pakistan have shown a notable 35% growth year-on-year (YoY) in the first four months (July-October) of fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Friday.
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Tax Officials Empowered to Enter Taxpayers’ Premises
Tax officials in Pakistan have been granted the authority to enter the premises of taxpayers for conducting audits or surveys, according to the Federal Board of Revenue (FBR).
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KSE-100 Index Hits New Record High of 92,520 Points
Karachi, November 7, 2024 – The KSE-100 index of the Pakistan Stock Exchange (PSX) surged to a new all-time high of 92,520 points on Thursday, reflecting bullish market sentiment and robust investor confidence.
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Pakistan Becomes Second Most Liquid Market in MSCI Frontier Markets
Karachi, November 7, 2024 – In a strong show of performance, Pakistan’s stock market has risen to prominence as the second most liquid market in the MSCI Frontier Markets (FM) index. This achievement underscores Pakistan’s appeal within the global investment landscape, as the market outperformed the MSCI FM index by an impressive 43.4% in year-to-date 2024, according to Arif Habib Limited’s latest analysis.
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Pakistan on Path to Economic Stability, Says Aurangzeb
The economic trajectory of Pakistan is firmly on course for stabilization, attributed to the government’s prudent policies, asserted Finance Minister Muhammad Aurangzeb. Addressing the 8th edition of the Future Summit in Karachi, the Finance Minister highlighted several indicators pointing toward an economic upturn, including a narrowed current account deficit, robust remittance inflows, a fortified rupee, and a recent policy rate cut.
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FPCCI Calls for Winter Package to Boost Industrial Production
Karachi, November 6, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has urged the government to implement a comprehensive winter package aimed at revitalizing Pakistan’s industrial sector. Sheikh highlighted the pressing need for incentives and cost reductions to ensure industries remain competitive in global export markets.
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Pakistan Stocks Decline by 283 Points Amid High Volatility
Karachi, November 6, 2024 – Pakistan stocks saw a decline of 283 points on Wednesday, driven by heightened volatility throughout the trading session. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended the day at 92,021 points, down from the previous close of 92,304 points.
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FBR Urged to Clarify Property Rebate Valuations in Karachi
Karachi, November 6, 2024 – The Federal Board of Revenue (FBR) is under mounting pressure to clarify its recent changes to Karachi property valuation guidelines, which appear to remove previously allowed rebates on certain property classifications. This call for clarity stems from concerns over the sudden elimination of rebates that were available under prior notifications, causing uncertainty among property owners and potential investors.
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FBR Starts Registration of 1.35 Million Potential Taxpayers
Karachi, November 6, 2024 – In a decisive move to bolster Pakistan’s tax base, the Federal Board of Revenue (FBR) has launched the registration of over 1.35 million potential taxpayers as part of its broadening of the tax base (BTB) initiative.
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