Karachi, March 2, 2024 – Pakistan’s petroleum industry has witnessed a substantial 13% decline in sales during the first eight months (July – February) of fiscal year 2023-24, compared to the same period in the previous fiscal year.
(more…)Author: Shahnawaz Akhter
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Taxpayers Eager to Secure ATL Status to Avoid FBR Action
In Pakistan, taxpayers are currently fervently seeking inclusion in the recently unveiled Active Taxpayers List (ATL) to shield themselves from the stringent measures enforced by the Federal Board of Revenue (FBR).
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FBR Officer Dismissed from Service for Embezzlement Charges
Karachi, March 1, 2024 – In a significant development, a Federal Board of Revenue (FBR) officer, Wazir Hussain Lashari, has been handed the major penalty of dismissal from service following charges of embezzlement.
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Pakistan Records 30% Contraction in Trade Deficit in 8MFY24
Islamabad, March 1, 2024 – Pakistan has achieved a remarkable 30% contraction in its trade deficit during the first eight months (July – February) of the fiscal year 2023-24, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.
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Pakistan’s Headline Inflation Hits 20-Month Low in February 2024
Karachi, March 1, 2024 – Pakistan’s headline inflation has reached a 20-month low in February 2024, according to analysts at Arif Habib Limited.
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FBR Releases List of 3.35 Million Active Taxpayers for TY2023
Karachi, March 1, 2024 – In a bid to fortify its tax collection efforts and bolster the country’s fiscal health, the Federal Board of Revenue (FBR) unveiled a new list on Friday, spotlighting 3.35 million active taxpayers for the tax year 2023.
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SCP Upholds Validity of Sindh Sales Tax on Distribution Services
Karachi, February 29, 2024 – In a significant decision, the Supreme Court of Pakistan (SCP) has affirmed the legitimacy of the Sindh Sales Tax on Supply Chain Management or Distribution (including Delivery) Services.
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Pakistan Records $59 Million Drop in Weekly Forex Reserves
Karachi, February 29, 2024 – The State Bank of Pakistan (SBP) reported a significant drop of $59 million in the country’s weekly foreign exchange reserves on Thursday.
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FBR Directs Tax Offices to Remain Open Until 8:00 PM Today
Karachi, February 29, 2024 – The Federal Board of Revenue (FBR) has directed tax offices to remain open until 8:00 pm today, signaling an extended effort to ensure the timely collection of duty and taxes.
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FBR to Reveal New Active Taxpayers List on March 1, 2024
Karachi, February 29, 2024 – The Federal Board of Revenue (FBR) is gearing up to unveil the new Active Taxpayers List (ATL) for the tax year 2023 on March 1, 2024.
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