Karachi, July 1, 2024 – Pakistan has recorded the lowest annual petroleum sales for the fiscal year 2023-24, according to data available since the fiscal year 2005-06.
(more…)Author: Shahnawaz Akhter
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Finance Act, 2024: Reduced ST Rates for Hybrid Electric Vehicles
Karachi, July 1, 2024 – In a reversal from its initial proposal, the Pakistani government has announced an extension of reduced sales tax rates for locally manufactured hybrid electric vehicles. This move aims to incentivize the production and adoption of environmentally friendly automobiles.
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Finance Act, 2024: FED Doubles on Cement
Karachi, July 1, 2024 – In a significant move impacting the construction and real estate sectors, the federal government has doubled the federal excise duty (FED) on the sale of cement through the Finance Act, 2024.
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Finance Act, 2024: Federal Excise Duty on Cigarettes
Karachi, July 1, 2024 – In a significant move aimed at regulating the tobacco industry, the Finance Bill, 2024 has proposed an increase in the retail price for different tiers of cigarettes manufactured in Pakistan.
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KCCI Expresses Displeasure over Hike in Petroleum Prices
Karachi, July 1, 2024 – Karachi Chamber of Commerce and Industry (KCCI) has voiced strong discontent over the recent hike in petroleum prices, marking a significant escalation in costs for businesses and the general public alike.
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Active Taxpayers List Swells to 4.84 Million: FBR
Islamabad, July 1, 2024 – The Federal Board of Revenue (FBR) announced on Monday a significant increase in the number of active taxpayers, which has risen to 4.84 million based on returns filed for the tax year 2023 by June 30, 2024.
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Finance Act 2024: Tax on Export of Goods
Karachi, July 1, 2024 – Pakistan has introduced a normal tax regime for exporters through the Finance Act 2024, detailing the new tax rates on the export of goods. This shift marks a significant change from the previous final tax regime, aiming to streamline and rationalize the tax structure for exporters.
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IRSOA Congratulates FBR for Impressive FY24 Tax Collection
KARACHI: The Inland Revenue Service Officers Association (IRSOA) has lauded the Federal Board of Revenue (FBR) for achieving remarkable tax collection results in the fiscal year 2023-24.
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FBR Surpasses Tax Collection Target by Rs 54 Billion for FY24
Islamabad, June 30, 2024 – The Federal Board of Revenue (FBR) announced on Sunday that it has surpassed its tax collection target for the fiscal year 2023-24 by Rs 54 billion, achieving a total collection of Rs 9.306 trillion.
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Finance Act, 2024 – Tax on Builders and Developers Explained
Karachi, June 30, 2024 – The Federal Board of Revenue (FBR) has introduced a new tax regime for builders and developers through the Finance Act, 2024, aiming to streamline taxation in the real estate sector.
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