Karachi, March 20, 2024 – The State Bank of Pakistan (SBP) announced on Wednesday that the foreign direct investment (FDI) into the country has witnessed a significant decline of 17.1 percent during the first eight months (July – February) of the fiscal year 2023-24.
(more…)Author: Shahnawaz Akhter
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PSX Seeks Tax Rates Rationalization for Listed Companies
Karachi, March 20, 2024 – The Pakistan Stock Exchange (PSX) has emphasized the need for tax rate rationalization for listed companies in the upcoming budget of 2024-25.
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Pakistan’s CAD Shrinks 74% to $999M in 8MFY24
Karachi – Pakistan’s economic landscape shows promising signs as the country’s Current Account Deficit (CAD) has seen a substantial reduction by 74 percent, dwindling to $999 million during the initial eight months (July – February) of fiscal year 2023-24, according to recent data unveiled by the State Bank of Pakistan (SBP) on Tuesday.
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FBR Promotes 37 IRS Officers to Higher Scale of BS-18
Islamabad, March 19, 2024 – In a significant development within the Federal Board of Revenue (FBR), 37 officers of the Inland Revenue Service (IRS) have been granted promotion to the higher scale of BS-18.
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FBR Issues Instructions on Single Sales Tax Return Portal
Islamabad, March 19, 2024 – In a move aimed at enhancing tax procedures and fostering business efficiency, the Federal Board of Revenue (FBR) has issued instructions regarding the operation of the Single Sales Tax Return (SSTR) portal.
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KATI Opposes Gas Tariff Increase, Advocates for Industrial Relief
KARACHI: The Korangi Association of Trade and Industry (KATI) has strongly denounced the proposed increase in gas tariffs for industrial consumers, calling for urgent relief measures to alleviate the burdens faced by manufacturers.
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SBP Maintains Policy Rate at 22% Amid Inflation Uptick Risk
Karachi, March 18, 2024 – The State Bank of Pakistan (SBP) has announced the decision to maintain the benchmark policy rate at 22 percent, citing concerns about the risk of inflation uptick in the country.
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Updated ATL Expands to 3.67 Million Active Taxpayers
Karachi, March 18, 2024 – The Federal Board of Revenue (FBR) has announced that the Updated Active Taxpayers List (ATL) for tax year 2023 has expanded significantly, reaching 3.67 million active taxpayers, according to official data released on Monday.
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PSX Pushes Tax Relief for Foreign Investment in Budget 2024-25
The Pakistan Stock Exchange (PSX) has set its sights on tax relief measures in the upcoming budget for the fiscal year 2024-25, aiming to pave the way for increased foreign investment in the country’s capital market.
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PSX Suggests 5% CGT for All Derivatives and Future Contracts
The Pakistan Stock Exchange (PSX) has put forth a groundbreaking proposal, suggesting a 5% Capital Gains Tax (CGT) for all derivatives and future contracts traded on the stock exchange.
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