Karachi, May 12, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has put forth an innovative approach to tackle the challenge of tax registration within the highly undocumented retail sector.
(more…)Author: Shahnawaz Akhter
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Rupee Expected to Maintain Stability Against Dollar in Near Term
Analysts predict that the Pakistani rupee will likely remain stable against the US dollar in the coming week and continue its trend until the end of the current fiscal year.
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PBC Proposes 24% Tax on Motor Vehicle Purchases by Non-Filers
The Pakistan Business Council (PBC) has put forth a bold proposal for the upcoming budget of 2024-25, recommending a significant increase in advance tax rates on motor vehicle purchases by non-filers of income tax returns.
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Saudi Arabia Signals Investment in Pakistan’s Refinery Sector
Islamabad, May 11, 2024 – Saudi Arabia has signaled its eagerness to invest in Pakistan’s refinery sector, marking a pivotal moment in bilateral economic cooperation.
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PIA Poised to Resume European Flight Operations
Islamabad, May 11, 2024 – Pakistan International Airlines (PIA) is gearing up to spread its wings to Europe, marking a significant milestone in its service expansion.
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Pakistan Commits No Tax Amnesty in 2024-25
Islamabad, May 11, 2024: Pakistan has pledged not to launch any tax amnesty schemes in fiscal year 2024-25 as part of its commitment to bolster the country’s fiscal sustainability and ensure continuous fiscal consolidation.
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Telecom Operators Begin Blocking SIMs of Non-Filers in Pakistan
Islamabad, May 10, 2024 – Pakistan’s telecom operators have begun the process of blocking mobile phone SIM cards belonging to individuals who have not filed their income tax returns.
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IMF Flags High Economic Risks in Pakistan Amid Uncertainty
Karachi, May 10, 2024 – The International Monetary Fund (IMF) on Friday issued a warning that Pakistan faces “exceptionally high” downside risks to its economic stability.
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PTBA Proposes Comprehensive Digitalization in Budget 2024-25
Karachi, May 10, 2024 – The Pakistan Tax Bar Association (PTBA) has officially presented a set of proposals to Finance Minister Muhammad Aurangzeb for the upcoming 2024-25 budget, placing significant emphasis on the digitalization of the economy.
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Pakistan Reports $1.143 Billion Surge in Weekly Forex Reserves
Karachi, May 9, 2024 – Pakistan has seen a robust increase in foreign exchange reserves this week, with an infusion of $1.143 billion, boosting the total reserves to $14.459 billion as of May 3, 2024, according to data released by the State Bank of Pakistan (SBP).
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