Karachi, March 12, 2024 – The Large Taxpayers Office (LTO) Karachi, a key arm of the Federal Board of Revenue (FBR), has achieved an unprecedented 112% year-on-year growth in the collection of direct taxes in February 2024.
(more…)Author: Shahnawaz Akhter
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Nassir Salim Takes Helm as President and CEO of Habib Bank
Karachi, March 11, 2024 –Habib Bank Limited announced the appointment of Muhammad Nassir Salim as its new President and Chief Executive Officer on Monday.
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Investment in Saving Certificates Drops by 12% in Pakistan
Karachi, March 11, 2024 – Pakistan has witnessed a substantial decline of 12 percent in investment in saving certificates during February 2024, compared to the same month a year ago, according to official statistics released by the State Bank of Pakistan (SBP).
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FBR Issues SRO to Implement 25% Sales Tax on Motor Vehicles
Islamabad, March 8, 2024 – In a move to generate revenue and discourage the use of non-essential and luxury items, the Federal Board of Revenue (FBR) in Pakistan has notified a 25 percent sales tax on motor vehicles.
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Workers’ Remittances into Pakistan Grow 13% in February 2024
Karachi, March 8, 2024 – The State Bank of Pakistan (SBP) reported a substantial 13 percent Year-on-Year (YoY) growth in workers’ remittances to Pakistan in February 2024.
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FBR Directs Swift Action on Deferred Sales Tax Refund Claims
Karachi, March 7, 2024 – The Federal Board of Revenue (FBR) has issued crucial instructions to tax offices regarding the expeditious handling of deferred sales tax refund claims.
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SBP Witnesses $54 Million Decline in Weekly Forex Reserves
Karachi, March 7, 2024 – The State Bank of Pakistan (SBP) announced a notable decrease of $54 million in its weekly foreign exchange reserves, according to an official statement released on Thursday.
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PTBA Raises Concerns on Active Taxpayers List 2023
Karachi, March 7, 2024 – The Pakistan Tax Bar Association (PTBA) has voiced apprehensions and raised concerns over the recently released Active Taxpayers List (ATL) for the tax year 2023 by the Federal Board of Revenue (FBR).
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APTMA Strongly Condemns Soaring Gas Tariffs
Karachi, March 7, 2024 – The All Pakistan Textile Mills Association (APTMA) vehemently rejected the recent surge of 223 percent in gas tariffs over the past year, deeming it highly detrimental to the export-oriented textile industry of Pakistan.
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Fertilizer Manufacturers Advocate for Equity in Gas Pricing
Karachi, March 7, 2024 – Fertilizer manufacturers in Pakistan are urging the government to create a level playing field by eliminating discriminatory gas pricing, a move they believe will foster new investments, enhance efficiency, and guarantee ample urea availability for the country’s farmers.
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