Karachi, January 25, 2024 – The Federal Board of Revenue (FBR) has officially released the advance tax rates on sales to retailers for the tax year 2024, as outlined in the updated Income Tax Ordinance, 2001.
(more…)Author: Shahnawaz Akhter
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Pakistan’s Private Sector Shuns New Loans, Retires Rs 8 Billion
Karachi, January 24, 2024 – Pakistan’s private sector has exhibited resilience in the face of challenging economic conditions, retiring a substantial amount of Rs 8 billion in the current fiscal year as opposed to seeking fresh loans.
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Pakistan Customs Screens Suspects for Concealed Goods
Karachi, January 24, 2024 – Pakistan Customs has been granted extensive powers to screen the bodies of suspected individuals for the detection of concealed goods, as outlined in Section 160 of the updated Customs Act, 1969, for the tax year 2024.
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FBR Notifies Tax Rates on Sales to Distributors for 2024
Karachi, January 24, 2024 – The Federal Board of Revenue (FBR) has taken a significant step in its tax policy for the year 2024 by notifying advance tax rates on sales to distributors.
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SBP Launches Electronic FX Trading Platform for Interbank Trading
Karachi, January 23, 2024 – The State Bank of Pakistan (SBP) announced the launch of a cutting-edge Centralized Foreign Exchange (FX) Trading Platform called ‘FX Matching.’
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NCCPL Sets Deadline for December CGT Collection
Karachi, January 23, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has issued a significant announcement regarding the collection of Capital Gain Tax (CGT) for the month of December 2023.
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Powers of Pakistan Customs Officials to Search Persons
Karachi, January 23, 2024 – In a significant development, the Customs Act of 1969 in Pakistan has undergone revisions granting expanded powers to Pakistan Customs officials for the purpose of searching individuals and goods suspected to be carrying prohibited items.
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Find Out Tax Rates for Marriage Gatherings in Pakistan for 2024
Karachi, January 23, 2024 – As the tax year 2024 kicks off, the Federal Board of Revenue (FBR) in Pakistan has unveiled the updated income tax rates applicable to functions and gatherings, specifically those organized in the context of marriage ceremonies.
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Pakistan Set to Launch Online FX Trading Platform by Month-End
Karachi, January 22, 2024 – In a strategic move, Pakistan has announced its plans to introduce an online trading platform for foreign exchange by the end of January 2024, marking a significant step toward enhancing transparency and efficiency in the country’s FX market.
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Three-Year Jail Term Specified for Falsifying Declaration
Karachi, January 22, 2024 – In a significant development, Customs Laws in Pakistan have explicitly outlined a three-year jail term for those found guilty of falsifying declarations.
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