KARACHI: Despite gloomy and uncertain organizational upheaval, the Large Taxpayers Office (LTO) Karachi has hit a new milestone by collecting over Rs 2 trillion in revenue for the fiscal year 2023-24, as of April 30, 2024.
(more…)Author: Shahnawaz Akhter
-
FBR Blocks Mobile Phone SIMs of Half a Million Non-Filers
Islamabad, April 30, 2024 – The Federal Board of Revenue (FBR) has taken stringent action against non-filers by blocking the mobile phone SIMs of half a million individuals.
(more…) -
KCCI Applauds Govt Move to Limit Customs Raids
Karachi, April 30, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has commended the recent government decision to limit the scope of Pakistan Customs’ raids on business premises, heralding a significant shift towards more business-friendly policies.
(more…) -
State Bank of Pakistan Receives $1.1 Billion from IMF
Karachi, April 30, 2024 – The State Bank of Pakistan (SBP) confirmed receiving $1.1 billion from the International Monetary Fund (IMF) on Tuesday.
(more…) -
Deadline Approaches for Registration under Tajir Dost Scheme
Karachi, April 30, 2024 – Today marks the final call for shopkeepers and small traders across Pakistan to register under the newly launched Tajir Dost Scheme. The Federal Board of Revenue (FBR) introduced this initiative at the start of April 2024, providing a one-month window, which concludes today, for mandatory registration.
(more…) -
Repatriation of Profits and Dividends Skyrockets 256% in 9MFY25
Karachi, April 29, 2024 – A significant uptick has been observed in the repatriation of profits and dividends by foreign companies in Pakistan, with figures surging 256% in the period from July 2023 to March 2024.
(more…) -
PTC Reports Domestic Volume Falls by 23% YoY in 1Q 2024
In a concerning revelation, Pakistan Tobacco Company (PTC) has announced a dramatic 23 percent decline in domestic sales volume for the first quarter of 2024, a stark contrast to the same period last year.
(more…) -
Complaints Against Banks Surge by 21% in 2023
Karachi, April 29, 2024 – Banking Mohtasib Pakistan (BMP) revealed a 21% increase in complaints against commercial banks for the year 2023, as reported in a press conference held at the Institute of Bankers Pakistan.
(more…) -
Pakistan Faces Rs 800 Billion Loss from IPR Violations
Karachi, April 29, 2024 – Pakistan economy suffered a substantial loss of approximately Rs 800 billion last year due to violations of intellectual property rights (IPR), according to a recent survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI).
(more…) -
APCMA Seeks Tax Rebate After Track and Trace System Fails
Karachi, April 29, 2024 – The All Pakistan Cement Manufacturers’ Association (APCMA) has called for a tax rebate from the government to compensate for the substantial investments made in the unsuccessful track and trace system (TTS).
(more…)