Islamabad, July 22, 2024 – The Federal Board of Revenue (FBR) on Monday released valuation tables for the collection of income tax from shopkeepers and retailers located in 42 major cities of Pakistan.
(more…)Author: Shahnawaz Akhter
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PYMA Warns of Industry Collapse Amid Skyrocketing IPP Charges
Karachi, July 22, 2024 – The Pakistan Yarn Merchants Association (PYMA) on Monday voiced serious concerns over the high payments of capacity charges to Independent Power Producers (IPPs), warning that these could lead to an industry shutdown.
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SBP May Cut Benchmark Policy Rate by 100 Basis Points: Analysts
Karachi, July 22, 2024 – As the State Bank of Pakistan’s (SBP) monetary policy meeting approaches on July 29, 2024, analysts are anticipating a significant policy shift.
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Pakistan Stocks Plunge 1,579 Points on Uncertain Political Vibes
Karachi, July 22, 2024 – Pakistan stocks experienced a sharp decline on Monday, plummeting 1,579 points due to the uncertain political conditions in the country.
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Banking Mohtasib Provides Relief of Rs 681 Million in 1HCY24
Karachi, July 22, 2024 – The Banking Mohtasib Pakistan has provided significant monetary relief to banking customers, amounting to Rs 681.07 million, by resolving 12,568 complaints during the first half of the current calendar year, 2024.
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Sindh Imposes 15% Sales Tax on Travel Agents, Tour Operators
Karachi, July 22, 2024 – The Sindh government has announced a 15% sales tax on services provided by travel agents and tour operators for the tax year 2024-25. This decision, formalized through the provincial Finance Act, 2024, marks an increase in the sales tax rates for these services.
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SRB Notifies Tax Rates for Advertisement Services in TY2025
Karachi, July 22, 2024 – The Sindh Revenue Board (SRB) has announced new sales tax rates for advertisement services for the tax year 2024-25. The rates were issued following amendments made through the provincial Finance Act, 2024.
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What Documents Are Required for Return Filing in 2024?
The Federal Board of Revenue (FBR) has opened its online portal for filing annual income tax returns for the tax year 2024. As the deadline approaches, taxpayers must be aware of the necessary documents to avoid penalties.
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NCCPL Notifies CGT Rates Updated Through Finance Act 2024
Karachi, July 21, 2024 – The National Clearing Company of Pakistan Limited (NCCPL) has announced updated capital gains tax (CGT) rates as mandated by the Finance Act, 2024. The NCCPL, which collects taxes on behalf of the Federal Board of Revenue (FBR), has outlined the new rates applicable from July 1, 2024, for income generated within Pakistan’s capital markets.
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Government Unveils Petroleum Levy Collection Plan till FY27
Karachi, July 21, 2024 – The Pakistani government has unveiled a comprehensive strategy for the collection of petroleum levy, a crucial non-tax revenue source, with ambitious targets set through the fiscal year 2026-27.
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