Pakistan has encountered a substantial 37 percent decrease in domestic car sales during the initial nine months of the fiscal year 2023-24, according to official data disclosed on Wednesday.
(more…)Author: Shahnawaz Akhter
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Philip Morris Pakistan Calls for Stern Action Against Tax Evasion
Islamabad, April 17, 2024 – Philip Morris Pakistan Limited (PMPKL) has sounded the alarm on the urgent need for immediate measures to combat the rising prevalence of low-priced, non-tax-paid cigarettes, citing a loss of fair competition and a significant decline in volumes within the legitimate tobacco sector.
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SITE Industries Shun Petroleum Price Hike
KARACHI: Muhammad Kamran Arbi, President of the SITE Association of Industry, has voiced strong opposition to the recent increase in petroleum prices, labeling it as detrimental to both the industry and the overall economy.
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SRB Raids Famous Karachi Restaurants for Non-Compliance
Karachi, April 17, 2024 – The Sindh Revenue Board (SRB) launched a crackdown on renowned restaurants in Karachi on Wednesday, targeting establishments that have flouted tax laws and failed to comply with regulatory requirements.
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SBP Slaps Banks with Rs 776 Million Penalty in 1Q of 2024
Karachi, April 17, 2024 – The State Bank of Pakistan (SBP) has wielded its regulatory authority, imposing a hefty penalty of Rs 776 million on several banks and an exchange company for breaching regulations during the first quarter of 2024, which ended on March 31.
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United Bank Reports 11.54% Profit Growth in First Quarter of 2024
Karachi, April 17, 2024 – United Bank Limited (UBL) announced an 11.54 percent increase in profit after tax for the first quarter ending March 31, 2024, according to consolidated financial results submitted to the Pakistan Stock Exchange (PSX) on Wednesday.
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Pakistan Sets $0.50 per kg Customs Value for Soyabean Meal
Karachi, April 16, 2024 – In a significant move aimed at regulating the import of soyabean meal into Pakistan, authorities have announced the establishment of a customs value of $0.50 per kg for the determination of duty and taxes.
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How to Pay FBR Surcharge Online for ATL Inclusion
The Federal Board of Revenue (FBR) has introduced a streamlined process to assist taxpayers in fulfilling their obligations and securing a spot on the coveted Active Taxpayers List (ATL).
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ATL Surges to 3.93 Million Amidst Crackdown Fear
Islamabad, April 16, 2024 – In a recent update from the Federal Board of Revenue (FBR), the active taxpayers list (ATL) has seen a substantial surge, reaching a notable 3.93 million individuals.
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Pakistan’s Forex Reserves Witness Growth, Reach $13.44 Billion
Karachi – Pakistan’s foreign exchange reserves have seen a notable increase, rising by $62 million to $13.44 billion by the week ending April 5, 2024.
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