Karachi, September 12, 2024 – The business community in Pakistan has voiced its disappointment over the State Bank of Pakistan’s (SBP) decision to cut the key policy rate by 2%, terming it insufficient given the current economic conditions.
(more…)Author: Shahnawaz Akhter
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Pakistan Stocks End Up 366 Points Amid Blue-Chip Buying
Karachi, September 12, 2024 – The Pakistan Stocks closed on a positive note Thursday, with the benchmark KSE-100 index rising by 366 points, primarily driven by heavy buying in blue-chip stocks.
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Rupee Gains 10 Paisas to Dollar on Lower Import Demand
Karachi, September 12, 2024 – The Pakistani rupee gained 10 paisas against the US dollar on Thursday, closing at PKR 278.44 in the interbank market, up from the previous day’s PKR 278.54. This marginal appreciation is primarily due to reduced demand for dollars to pay for imports, especially as global oil prices have sharply declined.
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SBP Sharply Reduces Policy Rate by 200 bps to 17.5%
Karachi, September 12, 2024 – The State Bank of Pakistan (SBP) has announced a significant policy rate cut of 200 basis points (bps), bringing the rate down to 17.5%.
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CGT Collection Deadline Set for September 23, 2024
Karachi, September 12, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) announced on Thursday that it will collect Capital Gain Tax (CGT) from clearing members of the stock market on Monday, September 23, 2024.
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Tax Rates for Vehicle Registration and Transfer in TY 2024-25
Karachi, September 12, 2024 – The Federal Board of Revenue (FBR) has officially announced the tax rates for the registration or transfer of ownership of motor vehicles for the tax year 2024-25.
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Tax Credit for Charitable Donations for TY 2024-25
Karachi, September 12, 2024 – The Federal Board of Revenue (FBR) has announced that individuals and organizations making charitable donations during the tax year 2024-25 will be eligible to claim tax credits under the Income Tax Ordinance, 2001.
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FBR Cracks Down on Non-Paying Taxpayers
Karachi, September 12, 2024 – The Federal Board of Revenue (FBR) has planned a comprehensive crackdown on individuals who are registered as active taxpayers but have failed to contribute any taxes.
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FBR Directs CIR Appeals to Forward High-Revenue Cases to ATIR
Karachi, September 12, 2024 – The Federal Board of Revenue (FBR) has issued a directive to all Commissioners of Inland Revenue (CIR) Appeals, urging them to promptly forward high-revenue cases to the Appellate Tribunal Inland Revenue (ATIR).
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MTO Karachi Urges ABAD to Pay FED on Properties
Karachi, September 11, 2024 – The Medium Taxpayers Office (MTO) Karachi has called upon members of the Association of Builders and Developers (ABAD) to comply with the newly implemented Federal Excise Duty (FED) on immovable properties.
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