Karachi, June 27, 2024 – Pakistan has recorded a fall of $208 million in foreign exchange reserves for the week ending June 21, 2024, according to the State Bank of Pakistan (SBP).
(more…)Author: Shahnawaz Akhter
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Exporters Tax Regime in Limbo Amid IMF Negotiations
Karachi, June 27, 2024 – The government of Pakistan remains undecided on the implementation of the new normal tax regime for exporters, set to begin on July 1, 2024, amidst considerable opposition from the sector, sources revealed on Thursday.
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RTO Hyderabad Clamps Down on Black And Brown Bakers
Hyderabad, June 27, 2024 – The Regional Tax Office (RTO) in Hyderabad has taken decisive action against a renowned bakery chain in the city, sealing two of its branches for non-compliance with integration requirements mandated by the Federal Board of Revenue (FBR).
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Pensioners Avail Rs 41.22 Billion as Tax Exemption Last Year: FBR
Karachi, June 26, 2024 – The Federal Board of Revenue (FBR) has announced that pensioners benefitted from Rs 41.22 billion in income tax exemptions during the last fiscal year.
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FBR Extends Tax Collection Hours Ahead of FY24 Deadline
Islamabad, June 25, 2024 – The Federal Board of Revenue (FBR) has announced special measures for tax collection during the final days of the fiscal year 2023-24, aiming to maximize revenue collection before the financial year concludes on June 30, 2024.
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CDC Supports Capital Market Investors with Major Tariff Cuts
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.
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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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