Karachi, August 16, 2024 – In a move aimed at alleviating the pressures faced by businesses amid widespread internet issues, the Federal Board of Revenue (FBR) has announced an extension for the filing of sales tax returns for July 2024.
(more…)Author: Shahnawaz Akhter
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KSE-100 Index Dips by 61 Points as Investors Lock in Gains
Karachi, August 16, 2024 — The Karachi Stock Exchange’s (KSE) benchmark KSE-100 Index experienced a minor dip of 61 points on Thursday, closing at 78,045 points, down from the previous day’s 78,106 points. This 0.08% decline reflects a shift in investor behavior towards profit-taking as the trading session drew to a close.
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SBP Raises SME Clean Lending Limit to Rs 10 Million
Karachi, August 16, 2024 – In a significant move to bolster the financing landscape for Small and Medium Enterprises (SMEs), the State Bank of Pakistan (SBP) announced on Friday an increase in the clean lending limit to Rs 10 million.
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Debt Soars to Rs 69 Trillion in Pakistan: Fiscal Woes Continue
KARACHI, August 16, 2024 – Pakistan government debt has escalated to a staggering Rs 69 trillion by the end of June 2024, marking a significant rise over the last fiscal year, according to data released by the State Bank of Pakistan (SBP) on Thursday.
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FBR Streamlines Income Tax Payments with New Guide
Karachi, August 16, 2024 – The Federal Board of Revenue (FBR) has rolled out comprehensive guidelines to assist taxpayers in fulfilling their income tax obligations, emphasizing the importance of timely payments as a national duty.
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National Firewall Jeopardizes Pakistan’s IT Sector, FPCCI Warns
KARACHI, August 16, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has issued a grave warning regarding the implementation of the national firewall, stating that its adverse effects are poised to severely impact the country’s burgeoning IT industry.
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Pakistan’s Forex Reserves Surge to $14.65 Billion
Karachi, August 15, 2024 – Pakistan’s foreign exchange reserves witnessed a significant uptick, climbing by $173 million to reach $14.65 billion by the week ended August 9, 2024, according to a statement released by the State Bank of Pakistan (SBP) on Thursday.
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Slow Internet Sparks KCCI Concerns
Karachi, August 15, 2024 – The Karachi Chamber of Commerce & Industry (KCCI) has expressed grave concerns over the ongoing slow internet connectivity and frequent disruptions in accessing social media applications, which have been severely affecting business operations.
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Confidence Building Can Bring $200Bn to Pakistan: ECAP Chief
Karachi, August 15, 2024 – Confidence-building measures could unlock $200 billion in foreign reserves for Pakistan, stated Malik Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), at the 77th Independence Day ceremony of the Association.
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FBR Launches Streamlined Sales Tax Registration
Islamabad, August 14, 2024 – In a move aimed at simplifying tax compliance, the Federal Board of Revenue (FBR) has introduced a streamlined procedure for sales tax registration. This new process is designed to facilitate taxpayers, making it easier and more efficient to register for sales tax using the Iris Portal.
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