In a seminar held on April 18, 2024, the Karachi Tax Bar Association (KTBA) voiced its concerns over what it perceives as half-hearted efforts by the Federal Board of Revenue (FBR) towards the documentation of the economy.
(more…)Author: Shahnawaz Akhter
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FBR Raises CNG Value by 48% for Sales Tax Charging
The Federal Board of Revenue (FBR) Thursday announced a significant increase in the value of Compressed Natural Gas (CNG) by 48 percent for the purpose of charging sales tax.
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New Provisions Disrupt Sales Tax Return Filing
Karachi, April 18, 2024 – The implementation of new provisions in the sales tax laws by the Federal Board of Revenue (FBR) has significantly disrupted the process of return filing for the month of March 2024.
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Meezan Bank Reports Profit Growth of 64.46% in 1QCY24
Meezan Bank Limited, the largest Islamic bank in Pakistan, Thursday announced a staggering 64.46 percent surge in profit, reaching Rs 25.54 billion in the first quarter of calendar year 2024.
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Pakistan Anticipates New IMF Loan Deal by June-end
Pakistan is poised to secure a new loan deal with the International Monetary Fund (IMF) by the end of June or early July, according to the country’s Finance Minister for Finance and Revenue, Muhammad Aurangzeb.
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Bank Deposits in Pakistan Cross Rs28 Trillion, Making New High
Karachi, April 18, 2024 – In a historic milestone for Pakistan’s financial landscape, bank deposits have soared to unprecedented levels, surpassing the Rs 28 trillion mark for the first time in history.
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PSX Records Three-Fold Profit Growth in Nine Months
The Pakistan Stock Exchange (PSX) has announced a remarkable three-fold surge in profit after tax for the nine-month period ending March 31, 2024, underscoring a significant upturn in its financial performance.
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Pakistan Experiences 37% Drop in Car Sales During 9MFY24
Pakistan has encountered a substantial 37 percent decrease in domestic car sales during the initial nine months of the fiscal year 2023-24, according to official data disclosed on Wednesday.
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Philip Morris Pakistan Calls for Stern Action Against Tax Evasion
Islamabad, April 17, 2024 – Philip Morris Pakistan Limited (PMPKL) has sounded the alarm on the urgent need for immediate measures to combat the rising prevalence of low-priced, non-tax-paid cigarettes, citing a loss of fair competition and a significant decline in volumes within the legitimate tobacco sector.
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SITE Industries Shun Petroleum Price Hike
KARACHI: Muhammad Kamran Arbi, President of the SITE Association of Industry, has voiced strong opposition to the recent increase in petroleum prices, labeling it as detrimental to both the industry and the overall economy.
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