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.
(more…)Author: Shahnawaz Akhter
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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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FBR to Notify Values of Imported Goods for Advance Income Tax
Karachi, August 2, 2024 – The Federal Board of Revenue (FBR) has announced it will soon disclose the values of imported goods for the purpose of collecting advance income tax.
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Pakistan Witnesses 20% Swell in July 2024 Trade Deficit
Karachi, August 2, 2024 – Pakistan has witnessed a significant widening of its trade deficit by around 20% on a year-on-year (YoY) basis in July 2024, according to official data released by the Pakistan Bureau of Statistics (PBS) on Thursday.
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Provincial Tax to GDP Ratio Slips to 0.73%: Finance Ministry
Karachi, August 1, 2024 – The federal finance ministry has reported a decline in the provincial tax to GDP ratio, which has slipped to 0.73% for the fiscal year 2023-24.
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