Karachi, January 9, 2024 – Pakistan is grappling with a substantial decline in investment in saving schemes, as official data released on Tuesday by the State Bank of Pakistan (SBP) indicates a notable downturn for the period ending November 2023.
(more…)Author: Shahnawaz Akhter
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Pakistan Customs Updates Baggage Declaration Rules for 2024
Karachi, January 9, 2024 – In a bid to enhance customs procedures and curb illicit activities, Pakistan Customs has recently updated the rules governing baggage declaration for the tax year 2024.
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FBR Grants Tax Exemption to Employee Perquisites in 2024
Karachi, January 9, 2024 – The Federal Board of Revenue (FBR) has recently announced a tax exemption on various perquisites granted to employees by virtue of their employment.
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Pakistan Customs Enables Duty-Free Transshipment in 2024
Karachi, January 8, 2024 – In a bid to streamline trade processes and promote efficient logistics, Pakistan Customs has authorized transshipment without duty payment during the tax year 2024.
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FBR Grants Tax Exemption to Gratuity Payments in 2024
Karachi, January 8, 2024 – The Federal Board of Revenue (FBR) has announced a tax exemption for gratuity payments during the tax year 2024.
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Customs Clearance Procedure for Home Consumption
Karachi, January 7, 2024 – The Federal Board of Revenue (FBR) in Pakistan has recently released the updated Customs Act, 1969, outlining the procedural framework for customs clearance for home consumption during the tax year 2024.
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Pakistan Unveils Cash Withdrawal Tax Rates for 2024
Karachi, January 7, 2024 – Pakistan has revealed the tax rates on cash withdrawals for tax year 2024. The move aims to boost revenue collection and promote financial transparency by encouraging participation in the tax system.
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Rupee Poised for Strong Surge Against Dollar in Coming Week
Karachi, January 7, 2024 – The Pakistani Rupee (PKR) is gearing up for a significant uptrend against the US dollar in the upcoming week, propelled by recent foreign inflows and the anticipated approval of funds by the International Monetary Fund (IMF).
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New Data Reveals Pakistan’s Transition to Digital Payments
Karachi, January 6, 2024 – Recent data released by the State Bank of Pakistan (SBP) indicates a significant shift in Pakistan’s financial landscape, with the country increasingly adopting digital payments and moving away from traditional paper or cash-based transactions.
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RTO Lahore Leads Highest Number of Active Taxpayers in 2023
Karachi, January 6, 2024 – The Regional Tax Office (RTO) Lahore has emerged as the frontrunner in registering the highest number of active taxpayers, securing the top spot among various tax offices in Pakistan.
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