Karachi, June 25, 2024 – The Central Depository Company of Pakistan Limited (CDC) has announced significant tariff reductions aimed at supporting capital market investors. Effective July 1, 2024, the CDC will eliminate the Annual Maintenance Fee for Sub-Account Holders and fully waive the CDS connection fee and minimum fees for Securities Brokers. Additionally, to ensure fairness, an Intra account movement transaction fee will be introduced.
(more…)Author: Shahnawaz Akhter
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FBR Unveils Draft Income Tax Return Forms for Tax Year 2024
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) issued draft return forms for the tax year 2024 on Monday, ensuring the timely commencement of the return filing season this year.
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Budget 2024-25 Will Promote Smuggling: Gohar Tells CEEJ
Karachi, June 24, 2024 – Muhammad Hanif Gohar, Former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and General Secretary of the United Business Group (UBG) Sindh Zone, voiced strong criticism of the 2024-25 federal budget, warning that it would exacerbate smuggling activities rather than bolster the formal economy.
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New Property Tax Rates: FBR Explains Benefits of Filing on Time
Islamabad, June 24, 2024 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the new property tax rates introduced through the Finance Bill 2024.
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Aurangzeb Assures PBC of Addressing Budget Concerns
Islamabad, June 24, 2024 – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, assured the Pakistan Business Council (PBC) on Monday that their recommendations would be considered in the finalization of the 2024-25 budget.
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KATI Sounds Alarm: Fixed Tax Abolition Threatens Export Industry
Karachi, June 24, 2024 – The Korangi Association of Trade and Industry (KATI) has issued a stern warning to the authorities, asserting that the proposed abolishment of the Fixed Tax Regime for exports will devastate the industry.
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FBR to Tax Late Filers on Property Deals from July 1
Starting July 1, 2024, the Federal Board of Revenue (FBR) will commence the collection of advance tax on property transactions from late filers after the approval from the parliament. This move aims to tighten tax compliance and discourage the trend of filing tax returns only when engaging in property transactions.
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FBR to Conduct Investigative Sales Tax Audit
Karachi, June 23, 2024 – The Federal Board of Revenue (FBR) is set to conduct investigative audits of sales tax cases starting from the next fiscal year, according to official sources.
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FBR Announces Property Valuation Increase to 90% in July 2024
Islamabad, June 23, 2024 – The Federal Board of Revenue (FBR) has announced a significant adjustment to property valuations in major Pakistani cities. This move, aimed at boosting tax collection, will see property values increase from 75% to 90% of their estimated market rates.
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Education and Healthcare Sectors Fight for Tax Breaks in Pakistan
Islamabad, Pakistan – June 22, 2024 – Pakistan’s education and healthcare sectors are locked in a battle to preserve vital tax breaks proposed for elimination in the recently unveiled Finance Bill 2024.
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