Karachi, September 4, 2024 – The Federal Board of Revenue (FBR) has provided a comprehensive explanation on the deduction of depreciation against tax liability for the tax year 2024-25, a critical aspect for businesses managing their assets and tax obligations.
(more…)Author: Shahnawaz Akhter
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KCCI Demands NEPRA Hearing to Address Pressing KE Issues
Karachi, September 3, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the National Electric Power Regulatory Authority (NEPRA) to convene an urgent hearing to address the mounting concerns related to K-Electric (KE).
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Pakistan Registers 14% Fall in Oil Sales YoY in August 2024
Karachi, September 3, 2024 – Pakistan oil sales have recorded a notable decline of 14% year-on-year (YoY) for August 2024, according to an analysis by Topline Securities.
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FPCCI Vehemently Rejects Mini Budget Plan
Karachi, September 3, 2024 — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) issued a vehement denunciation on Tuesday against any potential plans to introduce a mini-budget aimed at generating additional tax revenue.
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Pakistan Stock Market Gains 73 Points Amid Volatility
Karachi, September 3, 2024 — The Pakistan stock market saw a modest gain on Tuesday, with the benchmark KSE-100 index closing 73 points higher. The index ended the day at 78,356 points, up from the previous day’s close of 78,283 points.
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Millat Tractors Limited Halts Sales Pending FBR Clarification
Karachi, September 3, 2024 – Millat Tractors Limited, one of Pakistan’s leading tractor manufacturers, announced on Tuesday that it will continue to restrict its sales until further notice, awaiting clarification from the Federal Board of Revenue (FBR) regarding the sales tax refund procedure and its applicability.
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Pakistan Reports 14% Surge in Exports During 2MFY25
Karachi, September 3, 2024 – Pakistan recorded a significant increase in its export earnings during the first two months (July–August) of the fiscal year 2024-25, showcasing a robust economic performance.
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NBP Faces Rs 100 Billion Deposit Hit After TSA Rollout
Karachi, September 2, 2024 – The National Bank of Pakistan (NBP) reported a significant impact on its deposits following the implementation of the Treasury Single Account (TSA), with a recorded effect of Rs 100 billion.
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FBR Suspends Lady IR Officer for Issuing Illegal Refund
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) has suspended Ms. Shiraza Hameed, a Deputy Commissioner of the Inland Revenue Service (IRS), following allegations of issuing an illegal refund.
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FBR Appoints Junaid Jalil as Member Customs Operations
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) announced on Monday the appointment of Muhammad Junaid Jalil Khan as the new Member Customs Operations. Khan, an officer of BS-21 in the Pakistan Customs Service (PCS), was previously serving as the Chief Collector of Customs Enforcement (South) Karachi.
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