Islamabad, May 25, 2024 – In a significant move poised to impact the automotive market, the Federal Board of Revenue (FBR) has proposed the introduction of a capital gains tax (CGT) on the sale of used cars.
(more…)Author: Shahnawaz Akhter
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PBC Urges Rectification of Tax Anomalies in Services Sector
Karachi, May 24, 2024 – The Pakistan Business Council (PBC) has urged authorities to address and rectify tax anomalies in the services sector through amendments in the forthcoming budget for the fiscal year 2024-25.
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FBR Collects Rs 10 Billion in Tax from Bank Cash Withdrawals
Islamabad, May 24, 2024 – The Federal Board of Revenue (FBR) has successfully collected Rs 10 billion in advance tax from cash withdrawals at banks during the first 10 months of the current fiscal year.
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TPL Trakker Announces Partnership with UAE Gargash Group
Karachi, May 24, 2024 – TPL Trakker Limited announced on Friday that its Board of Directors has authorized a fresh equity injection into its associated company, Trakker Middle East Limited (TME), and approved a binding agreement with the UAE-based Gargash Group.
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PPL Forms JV with Degan Exploration for Mineral Project
Karachi, May 24, 2024 – Pakistan Petroleum Limited (PPL) announced on Friday the formation of a joint venture (JV) with Degan Exploration Works (DEW) for a mineral exploration license in District Chagai, Balochistan. This strategic move aims to diversify PPL’s business portfolio by expanding its mining operations.
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FBR Envisions Encompassing Expansive 18% Sales Tax Regime
In a bold and transformative move, the Federal Board of Revenue (FBR) is contemplating an extensive overhaul of the current sales tax framework for the fiscal year 2024-25.
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Fruit Juice Council Demands Removal of 20% FED in Budget
Karachi, May 23, 2024 – The Fruit Juice Council (FJC) has urgently appealed to the Federal Board of Revenue (FBR) for the elimination of the 20% Federal Excise Duty (FED) in the forthcoming budget for 2024-25.
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MTO Karachi Recovers Super Tax of Rs 607 Million from Maersk
Karachi, May 23, 2024 – In a landmark fiscal achievement, the Medium Tax Office (MTO) Karachi has effectuated the recovery of a colossal sum of Rs 607 million in super tax from Maersk, the globally eminent shipping and logistics conglomerate.
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UNISAME Calls for Bringing PayPal and Stripe to Pakistan
Karachi, May 23, 2024 – The Union of Small and Medium Enterprises (UNISAME) has urged the Pakistani government to expedite the introduction of PayPal and Stripe in the country to address the payment issues faced by start-ups and freelancers.
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SBP Weekly Forex Reserves Inch Up by $22 Million
Karachi, May 23, 2024 – The State Bank of Pakistan (SBP) has reported a modest increase in its official foreign exchange reserves, which rose by $22 million over the past week.
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