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.
(more…)Author: Shahnawaz Akhter
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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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TOMCL Secures $12 Million Frozen Beef Export Deal with China
Karachi, September 24, 2024 – The Organic Meat Company Limited (TOMCL) has announced a major breakthrough in its international operations, securing a significant contract worth $12 million to supply frozen cooked beef meat to China.
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Mari Petroleum Announces Rs 10 Billion Equity Investment
Karachi, September 24, 2024 – Mari Petroleum Company Limited (MPCL) has announced a significant equity investment of Rs 10 billion into a newly proposed subsidiary company. This move is part of the company’s broader strategy to diversify its business portfolio and explore emerging sectors beyond its traditional focus on petroleum exploration and production.
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FBR Issues Revised Tax Guidelines for AOPs in Tax Year 2024-25
Karachi, September 24, 2024 – The Federal Board of Revenue (FBR) has introduced revised tax guidelines for Associations of Persons (AOPs) for the tax year 2024-25, aimed at clarifying the principles of taxation under Section 92 of the Income Tax Ordinance, 2001.
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FBR Extends Collection Timings for Pakistan Customs to Boost Revenue
Karachi, September 24, 2024 – In a strategic move to address revenue shortfalls, the Federal Board of Revenue (FBR) has extended collection timings for Pakistan Customs, aiming to generate additional revenue through enhanced duty and tax collection.
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OGDCL Declares Rs 209 Billion After Tax Profit for FY24
Islamabad—The Oil & Gas Development Company Limited (OGDCL) announced a robust financial performance for the fiscal year ending June 30, 2024, posting a profit after tax of Rs 209 billion. The financial results were shared during a Board of Directors (BoD) meeting held in Islamabad on Monday, September 23, 2024.
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