Karachi, September 25, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has formally requested the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns for the tax year 2024.
(more…)Author: Shahnawaz Akhter
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FPCCI Rejects FBR’s Anti-Business Tax Collection Plan
Karachi, September 25, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) voiced strong opposition on Wednesday to the Federal Board of Revenue’s (FBR) proposed tax collection strategies, criticizing them as detrimental to business interests. FPCCI President Atif Ikram Sheikh condemned any efforts by the FBR to boost revenue through measures perceived as anti-business, urging for a more inclusive, consultative process with key stakeholders.
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Pakistan Customs Clarifies Classification of High-Speed Washer
Karachi, September 25, 2024 – The Pakistan Customs Appraisement (East) has issued an official classification of high-speed washers, declaring that these items will be subject to zero percent customs duty upon import.
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FBR Issues Updated Tax Guidelines for Non-Filers and Late Filers
Karachi, September 25, 2024 – The Federal Board of Revenue (FBR) has issued updated guidelines for individuals and entities who have either failed to file their annual income tax returns or submitted them after the due date.
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OGDCL Announces New Gas Discovery in Khairpur District, Sindh
Karachi, September 25, 2024 – The Oil and Gas Development Company Limited (OGDCL) has announced a significant gas discovery in the Sawan South Block at the Akhiro-1 Exploratory Well located in the Khairpur district of Sindh. This new find is expected to bolster Pakistan’s energy sector and contribute to the country’s growing demand for indigenous energy resources.
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FBR Plans Stricter Curbs on Non-Filers in Upcoming Money Bill
ISLAMABAD, September 25, 2024 — The Federal Board of Revenue (FBR) is preparing to introduce stricter curbs on non-filers of tax returns, aiming to prevent them from engaging in various financial and commercial transactions.
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FBR Introduces New Refund System for Exporters from Oct 1
ISLAMABAD: September 26, 2024 — To boost the export industry, the Federal Board of Revenue (FBR) has officially introduced a new, fast-tracked sales tax refund system for exporters, effective from October 1, 2024.
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SRB Seals Renowned Restaurant in Clifton for Non-Compliance
Karachi, September 24, 2024 – The Sindh Revenue Board (SRB) has taken decisive action against a prominent restaurant in Karachi for its continued non-compliance with Sindh sales tax laws.
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Headline Inflation Projected at 7.3% YoY in September 2024
Karachi, September 24, 2024 – Pakistan’s headline inflation, based on the Consumer Price Index (CPI), is projected to decrease to 7.3% year-on-year (YoY) in September 2024, marking its lowest level since January 2021. This is a significant improvement compared to both August 2024, when inflation stood at 9.6% YoY, and September 2023, when the inflation rate surged to 31.4% YoY.
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Pakistan Stocks Succumb to Selling Pressure, Drop 367 Points
Karachi, September 24, 2024 – The Pakistan Stock Exchange (PSX) experienced a sharp decline on Tuesday, as the benchmark KSE-100 index fell by 367 points, ending the session at 81,484 points. This marked a significant downturn from the previous day’s closing of 81,851 points, highlighting the market’s susceptibility to selling pressure.
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